Ask Question
BusinessBusiness
19 November, 04:55

A company wants to decrease its $200 petty cash fund to $175. the entry to reduce the fund is:

+5
Answers (1)
  1. 19 November, 05:33
    0
    What is Petty cash? It is a small quantity of cash at hand that is used for reimbursing small amounts payable, rather than writing a check. Petty cash is also known as a petty cash fund.

    To record the reduce the fund is:

    Debit Cash - 25

    Credit Petty Cash Fund - 25
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A company wants to decrease its $200 petty cash fund to $175. the entry to reduce the fund is: ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The total cost per device for production of 66,000 devices, excluding marketing costs, could be used as the cost basis.
Answers (1)
Which of the following steps of the accounting cycle are in the correct order? a. make adjustments, complete a work sheet, post to general ledger accounts b.
Answers (1)
A telephone system in an office complex is an example of which factor of production?
Answers (1)
Does it matter whether contingent workers and core employees are performing the same jobs
Answers (1)
Most investment returns in the U. S. are currently taxed at a 15% rate. Therefore, investors lose 15% of their returns to pay the cost of taxes. If the government reduces this tax to 5%, which effect will most likely result?
Answers (1)
New Questions in Business
Imagine a company that sells hammers charges customers $10 for each hammer. To make the hammer the company spends $7 on input costs (materials, machines, etc.).
Answers (1)
Tomo, Inc. has prepared its third quarter budget and provided the following dа ta:: Jul Aug SepCash collections $50,000 $39,600 $46,100Cash payments: Purchases of direct materials 30,000 21,700 17,600Operating expenses 12,300 8,000
Answers (1)
Lionel's Lawn Care is a company that maintains residential yards. Lionel's cost for his standard package of mowing, edging, and trimming is $15, and he charges $25 for this service.
Answers (1)
Stephanie is a twelve-year-old who often assists neighbors on weekends by babysitting their children. Calculate the 2013 standard deduction Stephanie will claim under the following independent circumstances (assume that Stephanie's parents will
Answers (1)
On March 3, Kitselman Appliances sells $781,500 of its receivables to Ervay Factors Inc. Ervay Factors assesses a finance charge of 1% of the amount of receivables sold.
Answers (1)
Home » Business » A company wants to decrease its $200 petty cash fund to $175. the entry to reduce the fund is:
Sign Up Forgot Password?