Use the Following Information Regarding Larson Company to Answer the Question

question 127

Multiple Choice

Use the following information regarding Larson Company to answer the question below.
1) Established a petty cash fund in the amount of $250.
2) Reimbursed the petty cash fund given the following petty cash fund disbursements:
A.Payment for postage,$20.
B.Payment for supplies,$70.
3) Increased the petty cash fund to $300.
4) Cash over at the end of the first period was $5.
-The entry to record the increase in the Petty Cash account would include a

• A)debit to the Petty Cash account for $50.
• B)credit to the Petty Cash account for $50.
• C)memorandum entry only in the ledger.
• D)debit to the Cash account for $50.

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Definitions:

Standard Deviation

A measure of the dispersion or spread of a set of data points relative to their mean.

Mean

The average of a set of numbers, calculated by dividing the sum of the values in the set by their number.

Uniform Distribution

A type of statistical distribution where all outcomes are equally likely; each number within a certain range has an equal chance of being selected.

Binomial Distribution

A probability distribution that models the number of successes in a fixed number of independent trials, with two possible outcomes.