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 241 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
Excellent

« previous next »
 

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

A normal pregnancy. A normal pregnancy.
A comparison of (a) uniform, cup-shaped, normal erythrocytes A comparison of (a) uniform, cup-shaped, normal erythrocytes
That politics was always a rough business is shown in this cartoon, which shows Lincoln, assisted by That politics was always a rough business is shown in this cartoon, which shows Lincoln, assisted by
Electrophoresis gel in a densitometer. SPE densitometry showing a normal pattern. Electrophoresis gel in a densitometer. SPE densitometry showing a normal pattern.
Normal vs. Frank Breech Normal vs. Frank Breech
Vitamin and minerals are essential for normal body functioning. Vitamin and minerals are essential for normal body functioning.
Video: Structures that affect circulation - arterioles and vasomotor responses

For a complete list of videos, visit our video library