You are assigned to the petty cash count for the KURDAPIA COMPANY at December 31, 2021. The contents of the fund are listed below. The custodian of the fund is Annie Bakalbato (Office Secretary). The balance of the petty cash fund per the company's general ledger is P60,000. Such fund is being maintained on an imprest basis. ➤ Bills Five hundred-peso bills; 26 One hundred-peso bills; 40 Fifty-peso bills; 88 Twenty-peso bill; 60
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- On September 1, French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries for the following transactions: A. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48. B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $210. C. On September 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $251, Supplies $88, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $20. D. On September 29, the company determined that the petty cash fund needed to be increased to $1,000. E. On September 30, the petty cash fund needed replenishment as it was month end. The following are the receipts: Auto Expense $18, Supplies $15, Postage Expense $57, Repairs and Maintenance Expense $49, Miscellaneous Expense $29. The cash on hand at this time was $837.The following are data of Taehyung Inc.: The petty cash fund was established on May 2, 2019, in the amount of P10,000. The expenditures from the fund by the custodian as of May 31, 2019, were evidenced by approved petty cash vouchers for the following: various office supplies- P3,920; IOUs from employees- P1,200; shipping charges- P2,298; miscellaneous expenses- P1,526. On May 31, 2019, the petty cash fund was replenished and increased to P12,000; currency and coins in the fund at that time totaled P756. The journal entry to record the replenishment of and increase in petty cash fund includes a credit toRaffy Tulfo In Action (RTIA) appointed Shelwyn as its petty cash custodian. As at December 31, 2020, the petty cash amounted to P50,000 and is consisted of the following:Check drawn payable to Shelwyn to replenish the fund P20,000Customer check received for payment of an account 10,000Grab and uber receipts incurred by RTIA staffs 5,000Note pledged by Brill, an employee of RTIA 5,000Currency and coins 5,000Envelope containing contributions for RTIA staff's dinner 5,000As at December 31, 2020, what is the amount to be reported as petty cash in RTIA's statement of financial position?
- On October 1, 2020, Faith Company established an imprest petty cash fund by issuing a check for P2,000 to Joy Youz, the custodian of the petty cash fund. Faith Co. allows expenses of P1,000 and below to be charged to Petty Cash Fund. Any expenditure beyond this amount will require check issuance to the payee. October petty cash transactions were as follows: Date PCV # Transaction Amount 02-Oct 1 Freight paid to MamaMove on merchandise purchase P400.00 05-Oct 2 Cash advance of a co-employee 500.00 07-Oct 3 One week cellphone load of the liaison personnel 100.00 08-Oct 4 Purchase of office supplies 550.00 10-Oct 5 Reimbursement of transportation expenses of the liaison personnel 300.00 12-Oct Petty cash replenishment, Check # 002357 12-Oct Increase in petty cash fund to P3,000.00, Check # 002358 14-Oct 6 One week cellphone load of the liaison personnel 100.00 14-Oct 7 Reimbursement of transportation expenses 300.00 15-Oct 8 Snack treat to the…On October 1, 2020, Faith Company established an imprest petty cash fund by issuing a check for P2,000 to Joy Youz, the custodian of the petty cash fund. Faith Co. allows expenses of P1,000 and below to be charged to Petty Cash Fund. Any expenditure beyond this amount will require check issuance to the payee. October petty cash transactions were as follows: Date PCV # Transaction Amount 02-Oct 1 Freight paid to MamaMove on merchandise purchase P400.00 05-Oct 2 Cash advance of a co-employee 500.00 07-Oct 3 One week cellphone load of the liaison personnel 100.00 08-Oct 4 Purchase of office supplies 550.00 10-Oct 5 Reimbursement of transportation expenses of the liaison personnel 300.00 12-Oct Petty cash replenishment, Check # 002357 12-Oct Increase in petty cash fund to P3,000.00, Check # 002358 14-Oct 6 One week cellphone load of the liaison personnel 100.00 14-Oct 7 Reimbursement of transportation expenses 300.00 15-Oct 8 Snack treat to the…On December 1, 2021, Hazel Company established a petty cash fund of P50,000, On December 31, 2021, the petty cash fund comprised the following information: Coins and currencies 6,000 Petty cash vouchers for miscellaneous expense 46,000 The petty cash fund was replenished on December 31, 2021. What entry should Hazel make on December 31, 2021 to record the replenishment of petty cash fund?
- The following information were taken from Bach Co.: Bach established a petty cash fund on May 2, 2021, amounting to P5,000. Expenditures from the fund by the custodian as of May 31, 2021, were evidenced by approved petty cash vouchers for the following: Page 6 of 11 Office supplies P1,960 Meals and snacks 600 Shipping charges 1,149 Miscellaneous 763 On May 31, 2021, the petty cash fund was replenished. Currency and coins in the fund at that time totaled P378. The bank statement from Sulfur Bank is shown below: Disbursements Receipts Balance Balance, May 1, 2021 Deposits Note payment direct from customer (interest of P600) Checks cleared during May Bank service charges Balance, May 31, 2021 P175,380 P560,000 18,600 P623,000 540 P130,440 The cash balance as found in Bach's records shows the following information: P177,000 Balance, May 1, 2021 May deposits Checks written in May 615,080 636,700 Deposits in transit are determined to be P60,000, and checks outstanding on May 31 totaled…On 1 September 2018, Desa Utara established a petty cash fund of RM900. At the end of the month the petty cash fund appeared as follows: Cash RM70.00 Petty cash vouchers Freight-in RM525.00 190.00 Postage Office Supplies 85.00 REQUIRED: (a) Compute the amount of fund to be replenished.EFG Company established a petty cash fund of P90,000 on December 1, 2021.As of December 31, 2021, the petty cash count revealed the following:Bills and coins 19,000Expense vouchers of the following: Supplies 12,000Representation 10,000Miscellaneous 15,000Postage stamps 5,000Check payable to the petty cash custodian 38,000Envelope containing christmas party contributions (opened and empty) 3,000How much is the cash (shortage)/overage?
- VKS Company established a petty cash fund of P10,000 on July 1, 2021. At the end of the month, the count of cash on hand indicated that P3,757.10 remained in the fund. A review of the petty cash vouchers disclosed the following expenses had been incurred during the month: Office supplies – 741.90; Postage – 880; Representation – 900; Transportation – 1,421.40; Miscellaneous – 837.60 Other items found in the petty cash drawer were as follows:A sympathy envelope containing P3,500, representing employee’s contributions for the death of the father of the company’s janitor. An employee’s check for P900 dated August 15, 2021. The given information indicates that there is a _________________ A. cash shortage of P562.00 B. cash overage of P538.00 C. cash overage of P562.00 D. cash shortage of P538.00EFG Company established a petty cash fund of P90,000 on December 1, 2021.As of December 31, 2021, the petty cash count revealed the following: Bills and coins 19,000Expense vouchers of the following: Supplies 12,000 Representation 10,000 Miscellaneous 15,000Postage stamps 5,000Check payable to the petty cash custodian 38,000Envelope containing christmas party contributions (opened and empty) 3,000 How much is the cash (shortage)/overage?On April 1, 2021, Adobo Co. established a petty cash fund for P80,000 by writing a check drawn against general checking account. On April 30, the funds contained the following:Currency and coins- P24,000Receipts for office supplies- P32,000Receipts for postage still unused- P16,000 Receipts for transportation- P4,800On April 30, the company write a check to replenish the fund.What is the amount of replenishment under the imprest fund system?