Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. meng company maintains a $365 petty cash fund. on

Meng Company maintains a $365 petty cash fund. On January 31, the fund is replenished....

60.1K

Verified Solution

Question

Accounting

Meng Company maintains a $365 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $93 for office supplies, $186 for merchandise inventory, and $33 for miscellaneous expenses. There is a cash shortage of $10. The journal entry to replenish the fund on January 31 is:

Multiple Choice

Debit Office Supplies Expense, $93; Debit Merchandise Inventory, $186; Debit Miscellaneous Expenses, $33; Credit Cash Over and Short, $10; Credit Cash, $302.

Debit Office Supplies Expense, $93; Debit Merchandise Inventory, $186; Debit Miscellaneous Expenses, $33; Credit Cash Over and Short, $10; Credit Petty Cash, $302.

Debit Office Supplies Expense, $93; Debit Merchandise Inventory, $186; Debit Miscellaneous Expenses, $33; Credit Cash Over and Short, $10; Credit Petty Cash, $365.

Debit Office Supplies Expense, $93; Debit Merchandise Inventory, $186; Debit Miscellaneous Expenses, $33; Debit Cash Over and Short, $10; Credit Cash, $322.

Debit Office Supplies Expense, $93; Debit Merchandise Inventory, $186; Debit Miscellaneous Expenses, $33; Debit Cash Over and Short, $10; Credit Petty Cash, $322.

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

Q

Perry P. (the logistics manager for the Company PTP) is woken by a phone call in...

General Management
Q

What is the name for a molecule that is made of two sugar monomers bonded...

Biology
Q

Which of the following is an evaluative thesis a Walking and running are both great...

Biology
Q

A bubble of radius R is at the bottom of a vessel filled with water...

Physics
Q

Use the following information to answer the following four questions A health psychologist is interested...

Statistics
Q

Perform the following division find the following quotient a 4 b 2 ab 2 ab...

Algebra
Q

Where i is the imaginary unit, the expression (x + 3i) - (2x -3i) is...

Algebra
Q

Required information [The following information applies to the questions displayed below.] Cane Company manufactures two...

Accounting
Q

The production department of Zan Corporation has submitted the following forecast of units to be...

Accounting
Q

Required information [The following information applies to the questions displayed below] Bridge City Consulting bought...

Accounting
Q

the company name is NATIONAL BISCUIT INDUSTRIES LTD year 2019-2020 Step...

Accounting
Q

Consider a two assets portfolio. The portfolio has three assets A, B, and C, and...

Finance