Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company writes a replenishment cheque for the pe

A company writes a replenishment cheque for the petty cash fund and the journal entry...

50.1K

Verified Solution

Question

Accounting

A company writes a replenishment cheque for the petty cash fund and the journal entry to record this includes a credit of $1 to an account that is reported as 'Miscellaneous Expense/Revenue' on the income statement. What is the most likely reason for this credit?

which answer is correct?

  1. the cash count was lower than the amount of cash receipts by $1
  2. the cash count was higher than the cash receipts by $1
  3. there was a cash receipt of $1 into the petty cash fund
  4. the cash count was higher than the cash receipts by $.50

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

A grad student has a culture of E. coli with a total volume of 600 mL,...

Civil Engineering
1.2K views

What are 3main reasons that project managers engaged on building and construction projects delegate out specific...

Programming
1.2K views

using lunix or C programming to answer this lab please fill in the blanks with the...

Advance Math
1.2K views

Obtain the general solution of the following equations: r Utt ? c^2 r Urr ? 2...

Biology
1.2K views

What is NOT an example of the development of cellular polarity?The use of landmarks to...

Physics
1.2K views

2 Determine the voltage required to move 10 coulombs of charge if it took an...

Accounting
1.2K views

45. Jackie's Jewelry Company reported the...

Accounting
1.2K views

[URGENT] The condensed form of Nordstrop Company's flexible budget for manufacturing overhead follows: The...

Accounting
1.2K views

rockford corp practice set

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.] Sandy and John Ferguson...

Accounting
1.2K views

Describe the differences that exist in current accounting for original proceeds of the issuance of...

Finance
1.2K views

primary market (P) transactions and which are (9%) 4. Indicate which of the below transactions...