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Author Question: Henry Co establishes a Petty Cash Fund of 150 . The journal entry to establish the fund would be: ... (Read 128 times)

nramada

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on: Jul 6, 2018
Henry Co establishes a Petty Cash Fund of 150 . The journal entry to establish the fund would be:
 a. Petty Cash Fund 150
  Cash 150
   b. Cash 150
  Petty Cash Fund 150
   c. Supplies Expense 150
  Cash 150
   d. none of the answers listed.

Question 2

Which format of the income statement should be used for analysis purposes?
 
  a. Multiple-step.
  b. Cash basis.
  c. Single-step.
  d. Accrual basis.


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Christopher

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Reply #1 on: Jul 6, 2018
Answer to Question 1

a

Answer to Question 2

c


nramada

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Reply 2 on: Jul 6, 2018
Excellent

T4T

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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