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 239 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
:D TYSM

kthug

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Normal Ear Alignment Normal Ear Alignment
This diagram shows a cross-section of a solar-type star. This diagram shows a cross-section of a solar-type star.
Normal glomerulus. Acute glomerulonephritis. Normal glomerulus. Acute glomerulonephritis.
In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai
Structure of a complex of a type II DNA methylase with DNA Structure of a complex of a type II DNA methylase with DNA
Comparison of A-type Climates Comparison of A-type Climates
Video: Splitting of Sugar, Oxidation/ Reduction & ATP Generation

For a complete list of videos, visit our video library