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Author Question: The debit recorded in the journal to reimburse the petty cash fund is to a. Petty Cash b. Accounts ... (Read 87 times)

rachel9

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  • Posts: 495
on: Jul 5, 2018
The debit recorded in the journal to reimburse the petty cash fund is to
 a. Petty Cash
  b. Accounts Receivable
  c. Cash
  d. various accounts for which the petty cash was disbursed

Question 2

Miss Happ of Ace Electronics forgot to make the adjusting entry for depreciation on the company's equipment. As a result of this mistake ________.
 
  A) total liabilities are too low
  B) net income is too high
  C) net income is too low
  D) shareholders' equity is too low


amynguyen1221

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  • Posts: 355
Reply #1 on: Jul 5, 2018
Answer to Question 1

d

Answer to Question 2

B


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