As of December 31,2020, based on a physical count conducted, the following are the items included in the petty cash drawer: Bills and coins P 1,230 Petty cash vouchers with receipts: Transportation 270 Supplies 400 IOU from employee A 500 Envelope for birthday contribution of an employee includes an amount of 1,000 The petty cash fund is established at an imprest balance of P 3,000. How much is the cash shortage or overage in the petty cash fund?
As of December 31,2020, based on a physical count conducted, the following are the items included in the petty cash drawer: Bills and coins P 1,230 Petty cash vouchers with receipts: Transportation 270 Supplies 400 IOU from employee A 500 Envelope for birthday contribution of an employee includes an amount of 1,000 The petty cash fund is established at an imprest balance of P 3,000. How much is the cash shortage or overage in the petty cash fund?
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 4AP
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As of December 31,2020, based on a physical count conducted, the following are the items included in the petty cash drawer: Bills and coins P 1,230
Petty cash vouchers with receipts:
Transportation 270
Supplies 400
IOU from employee A 500
Envelope for birthday contribution of an employee includes an amount of 1,000
The petty cash fund is established at an imprest balance of P 3,000.
How much is the cash shortage or overage in the petty cash fund?
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