Asked by Thamer Alshamsi on Jun 03, 2024
Verified
If the petty cash fund was originally $50,and it has been depleted down to $3,a new petty cash check should be written for:
A) $50
B) $53
C) $100
D) $47
Petty Cash
A small amount of cash available for small business expenses used for postage stamps, inexpensive office supplies, and small charitable donations, usually maintained in a locked container.
Depleted
Consumed, emptied, exhausted.
- Understand the procedure for establishing and replenishing petty cash funds.
Verified Answer
JS
Jacob SmithJun 07, 2024
Final Answer :
D
Explanation :
The new petty cash check should be written for $47 to replenish the fund back to its original amount of $50.
Learning Objectives
- Understand the procedure for establishing and replenishing petty cash funds.