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Bills and coins P 1,456
PCF vouchers P1,710
Personal check issued by petty cashier payable to ABC Corp, P 700
General ledger showed that the petty cash fund account has a balance of P4,000.
How much is the overage (shortage) at Dec 31, 20X1?
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- Record the following transactions: A. Started a petty cash fund in the amount of $1,000. B. Replenished petty cash fund using the following expenses: Auto $61, Office Expenses $23, Postage Expense $57, Miscellaneous Expenses $30. C. The company has decided to reduce the petty cash fund to $600.Record the following transactions: A. Started a petty cash fund in the amount of $500. B. Replenished petty cash fund using the following expenses: Auto $24, Office Expenses $43, Postage Expense $19, Miscellaneous Expenses $25. Cash on hand is $389. C. The company has decided to reduce the petty cash fund to $300.Record the following transactions: A. Started a petty cash fund in the amount of $575 B. Replenished petty cash fund using the following expenses: Auto $18, Office Expenses $35, Postage Expense $56, Miscellaneous Expenses $67. Cash on hand is $399. C. Increased petty cash by $25.
- Using the following information, prepare a bank reconciliation. Bank balance: $7,651 Book balance: $10,595 Deposits in transit: $2,588 Outstanding checks: $489 Interest income: $121 NSF check: $9666.The following data relates to ABC Corp's petty cash fund at Dec 31, 20X1: Bills and coins P 1,456 PCF vouchers P1,710 Personal check issued by petty cashier payable to ABC Corp, P 700 General ledger showed that the petty cash fund account has a balance of P4,000.The entry at Dec 31, 20X1 related to the petty cash fund would include: Dr Expenses 1,710 Dr Cash in bank 1,710 Cr Cash in bank 1,844 Cr Cash overage/shortage 8343. Athena Co. held the following items on Dec. 31, 20x1: Petty cash fund (currencies and coins, P6,000) 10,000 65,000 Cash on hand (per cash count sheet on Dec. 31, 20x1) Cash in bank (per ledger) 2,890,000 190,000 Customer's check #109 - dated Dec. 29, 20x1. Customer's check # 392 - dated Jan. 8,20x2 20,000 Athena Co.'s check # 567 - dated Dec. 29, 20x1 54,000 NSF check (received from the bank on Dec. 30, 20x1) 40,000 All the checks were recorded when they were collected (drawn) by a debit (credit) to the Cash in bank account. The NSF* check was recorded when it was received from the customer. However, the return of the NSF check from the bank was not yet recorded. In its Dec. 31, 20x1 financial statements, what amount of cash should Athena Co. report? a. 2,695,000 b. 2,735,000 c. 2,955,000 d. 3,085,000 *NSF (No Sufficient Funds) means that the check has "bounced" or has been rejected by the bank because the drawer's account (i.e., the customer) has an insufficient balance to pay for…
- 33.The following are items found in the records of ABC Corp at Dec 31, 20X1: Cash in BPI , P102,000 Cash in Metro bank, P4,000 (credit balance) Cash in Union bank, P75,000 Petty cash fund , P5,000 (includes un replenished voucher of P2,000) Undeposited customers' checks, P23,000 Undeposited post dated checks from Customer A, P10,000 Unreleased supplier's check deducted from Metro Bank, P5,000 Undeposited bills and coins, P10,235How much is the cash balance at Dec 31, 20X1? 214,235 218,235 220,235 228,235The following are items found in the records of ABC Corp at Dec 31, 20X1: Cash in BPI , P102,000 Cash in Metro bank, P4,000 (credit balance) Cash in Union bank, P75,000 Petty cash fund , P5,000 (includes un replenished voucher of P2,000) Undeposited customers' checks, P23,000 Undeposited post dated checks from Customer A, P10,000 Unreleased supplier's check deducted from Metro Bank, P5,000 Undeposited bills and coins, P10,235How much is the cash balance at Dec 31, 20X1? a. 214,235 b. 218,235 c. 220,235 d. 228,235
