This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The type of account and normal balance of Petty Cash is a(n) a. revenue, credit b. asset, debit ... (Read 263 times)

penguins

  • Hero Member
  • *****
  • Posts: 903
on: Jul 5, 2018
The type of account and normal balance of Petty Cash is a(n)
 a. revenue, credit
  b. asset, debit
  c. liability, credit
  d. expense, debit

Question 2

Team Shirts, Inc recognized 13,880 in salaries and wages expense for the quarter. At the beginning of the quarter, the balance in Salaries Payable was 2,300. At the end of the quarter, the balance was 3,425.
 
  How is the accounting information for these items reported on the statement of cash flows using the INDIRECT method?
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

snackralk

  • Sr. Member
  • ****
  • Posts: 363
Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

The net increase of 1,125 is added to net income in the operating activities section.


penguins

  • Member
  • Posts: 903
Reply 2 on: Jul 5, 2018
Gracias!

bimper21

  • Member
  • Posts: 309
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

The Configuration, Normal Pressures, and Oxygen Content of the Heart Chambers The Configuration, Normal Pressures, and Oxygen Content of the Heart Chambers
PET scan of a normal brain. PET scan of a normal brain.
Normal changes in the breast during a woman's life span Normal changes in the breast during a woman's life span
Effect of stimulus type on graded potentials. Effect of stimulus type on graded potentials.
Energy Balance and Imbalances Energy Balance and Imbalances
If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ... If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ...
Video: How to make cDNA Animation

For a complete list of videos, visit our video library