Author Question: The cash payments journal is used for transactions involving a. credits to Cash, regardless of the ... (Read 125 times)

erika · **on:** Jul 6, 2018

The cash payments journal is used for transactions involving
a. credits to Cash, regardless of the offsetting debits.
b. credits to Cash but not affecting subsidiary ledgers.
c. a debit to Cash and credits to other accounts.
d. a debit to Cash and debits or credits to other balance sheet accounts.
e. a credit to Cash and a debit to income statement accounts.

Question 2

The General Fund beginning materials and supplies inventory was 122,000; the ending balance was 150,000 . Supplies received during the year (purchases) totaled 600,000 .

The county uses the purchases method, so General Fund expenditures for materials and supplies for the year were
a. 450,000
b. 572,000
c. 600,000
d. 628,000