Why would a business use a petty cash fund, Accounting Basics

+44 141 628 6080
[email protected]

Why would a business use a petty cash fund

Response to the following questions:

1. a. What does a debit balance in Cash Short and over mean?

b. Where does a debit balance in Cash Short and over appear in the financial statements?

c. What does a credit balance in Cash Short and over mean?

d. Where does a credit balance in Cash Short and over appear in the financial statements?

2. a. Why would a business use a Petty Cash Fund?

b. Describe the entry needed to establish a $50 Petty Cash Fund and an entry to reimburse the fund.

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Why would a business use a petty cash fund

Reference No:- TGS02127804

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

Investigate the cause of the recent werewolf attacks

create a temporary committee to investigate the cause of the recent werewolf attacks in major cities throughout the United States.

Describe marxist theory and psychology of addiction

Compare the Marxist Theory and Psychology of Addiction with the Realistic Theory and psychology of Addition.

Explain framers decisions in creating the constitution

Explain how the Articles of Confederation made the above scenario possible. Describe how this scenario influenced the framers' decisions in creating the Constit

Federal bureaucracy has to put up with a lot of red tape

Question: The Federal Bureaucracy has to put up with a lot of "red tape". What is "red tape" in regards to government?

What power of recognition when it comes to office president

Question: What is "power of recognition" when it comes to the office of the president? Question Select one

What right ordinance power give to the president

Question: What right does the Ordinance Power give to the president? Question Select one:

Analyze leadership of organization during particular event

Analyze leadership of an organization during a particular event or across a defined set of events. The assignment will assess your ability to identify

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Why would a business use a petty cash fund

Reference No:- TGS02127804

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : How creative thinking affect when making decisions at work

Q : Analytical procedure for payroll and personnel cycle account

Q : Describe an environment-community organization

Q : How is the payoff done

Q : Why would a business use a petty cash fund

Q : Problem related to bank reconciliation

Q : What is the purpose of endorsing a check

Q : Journalize the entries to account for bank deposits

Q : Record journal entry for reimbursement of petty cash fund