PT Angkasa which is located at Jalan Angkasa Pura No.234 Jakarta, on May 1, 2019 established a petty cash fund as big as IDR 1,500,000. Petty cash disbursement with details as following : May 2 Bought Aqua gallons IDR 150.000 May 5 Pay cost internet subscription IDR 350.000 May 7 Purchase equipment office IDR 278.000 May 9 Pays account electricity IDR 450.000 May 10 Charging petty cash back May 15 Paying phone IDR 580,000 May 18 Fee consumption meeting IDR 500,000 May 25 Photocopy fee IDR 150.000 Requested : a. Take note petty cash disbursement with use method imprest ! b. make it journal adjustment on May 31, 2019!

PT Angkasa which is located at Jalan Angkasa Pura No.234 Jakarta, on May 1, 2019 established a petty cash fund as big as IDR 1,500,000. Petty cash disbursement with details as following : May 2 Bought Aqua gallons IDR 150.000 May 5 Pay cost internet subscription IDR 350.000 May 7 Purchase equipment office IDR 278.000 May 9 Pays account electricity IDR 450.000 May 10 Charging petty cash back May 15 Paying phone IDR 580,000 May 18 Fee consumption meeting IDR 500,000 May 25 Photocopy fee IDR 150.000 Requested : a. Take note petty cash disbursement with use method imprest ! b. make it journal adjustment on May 31, 2019!

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

On June 1, 2019, Wadi Nam Furniture Company established a petty cash fund for RO 750. On June 31, 2019, there was RO 90 cash in the fund in addition to the following data: Freight-In RO 260 Supplies Expense 300 Entertainment of clients 104 Postage Expense 60 The journal entry to establish the petty cash fund would include a: Select one: O a debit to Cash Over and Short for RO 750. O b. credit to Cash for RO S00. O c redit to Accounts Payable for RO 750. O d. None of the answers are correct O e debit to Cash for RO 750.
On June 1, 2019, Wadi Nam Furniture Company established a petty cash fund for RO 750. On June 31, 2019, there was RO 90 cash in the fund in addition to the following data: Freight-In RO 260 Supplies Expense 300 Entertainment of clients 104 Postage Expense 60 The journal entry to establish the petty cash fund would include a: Select one: O a debit to Cash Over and Short for RO 750. O b. redit to Cash for RO 500. O credit to Accounts Payable for RO 750. O d. None of the answers are correct O e debit to Cash for RO 750.
The cash account of Ria on December 31,2021 has an balance of P151,000 and it consists of the following:Bills and coins on hand P52,780Traveler’s check 22,400Credit memo from supplier’s for purchase returns 6,500Postage stamps 120Petty cash including paid cash vouchers of P1,650 2,000Balance in Savings Account with a bank closed by the BSP 36,000Customer’s check dated January 15,2022 8,000Money Order 800IOU of an employee 400CA Balance in BPI 22,000Total…
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.
On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the amount remaining in the fund was RO 80. It had the following data: Postage Expense RO 150 Freight-In 340 Entertainment of clients 228 Supplies Expense 160 The journal entry to replenish the account would indlude: Select one O a. None of the answers are correct. O b. debit to Petty Cash for RO 750. O c debit to Cash Over and Short for RO 8. O d. credit to Cash for RO 52. O e credit to Cash Over and Short for RO 8.
On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the amount remaining in the fund was RO 80. It had the following data: Postage Expense RO 150 Freight-In 340 Entertainment of clients 228 Supplies Expense 160 The journal entry to replenish the account would include: Select one: O a. None of the answers are correct. O b. debit to Petty Cash for RO 750. O c debit to Cash Over and Short for RO 8. O d. credit to Cash for RO 52. O e.credit to Cash Over and Short for RO 8.
on National Bank. The fund contained: Dec. 1 Established an imprest petty cash fund of P10,000 by Problem 1-9 (IAA) On December 1, 2020, Wwacky Company established an imprest petty cash fund. 2020 1 Established an imprest petty cash fund of P10,000 by writing a check on National Bank. 20 Replenished the petty cash fund by writing a check Currency and coins Vouchers for selling expenses Vouchers for miscellaneous expenses Vouchers for equipment 1,000 5,000 2,000 2,000 Dec. 31 The petty cash fund was not replenished. The fund contained: Currency and coins Postdated employee's check Vouchers for selling expenses Vouchers for transportation 6,000 2,000 1,500 500 AAD 2021 Jan. 15 Encashed the employee's check. The proceeds were retained in the fund. 31 Replenished the petty cash fund by writing a check on National Bank. The petty cash vouchers for January expenditures are: 000 500 Distribution costs Administrativě expenses Transportation Payment for supplier's invoice 2,000 1,000 1,200…
On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the amount remaining in the fund was RO 80. It had the following data Postage Expense RO 150 Freight-In 340 Entertainment of clients 228 Supplies Expense 160 The journal entry to establish the petty cash fund would include a: Select one: O a debit to Cash for RO 750. O b.credit to Cash Over and Short for RO 48. O c None of the answers are correct O d. credit to Cash for RO 700. O e. credit to Cash for RO 52.
On December 1, 2020, Wacky Company established an imprest petty cash fund. 2020 Dec 1 Established an imprest petty cash fund of 10,000 by writing a check on National Bank Dec 20 Replenished the petty cash fund by writing a check on National Bank. The fund contained: Currency and coins 1,000 Vouchers for selling expenses 5,000 Vouchers for miscellaneous expense 2,000 Vouchers for equipment 2,000 Dec. 31 The petty cash fund was not replenished. The fund contained: Currency and coins 6,000 Postdated employee's check 2,000 Vouchers for selling expenses 1,500 Vouchers for transportation 500 2021 Jan 15. Encashed the employee's check. The proceeds were retained in the fund. Jan 31. Replenished the petty cash fund by writing a check on National Bank. The petty cash vouchers for January expenditures are: Distribution costs 500 Administrative expenses 2,000 Transportation 1,000 Payment for supplier's invoice 1,200 Required: 1. Prepare journal entries to record the transactions.…
B. The cash accounts of Ria on December 31,2021 has balance of P151,000 and it consist of the following: Bills and coins on hand P52,780 22,400 6,500 Traveler's check Credit memo from supplier's for purchase returns Postage stamp Petty cash including paid cash vouchers of P1,650 Balance in Savings Account wit a bank closed by BSP Customer's check dated January 15,2022 Money order IOU of an employee Checking Account Balance in Bank of Philippines Island Total 120 2000 36,000 8,000 800 400 22,000 P151,000 The correct cash and cash equivalents balance on December 31,2021 is c. P97,530 a. P98,900 b. P98,730 d. P98,330 C. The statement of financial position of company presents the following financial assets at December 31,2021: Bank cheque account=P58,400 Bank Savings account (collectable immediately) = P23,440. Cash=P10,000 Common stocks on Entity Z, one of the most traded assets in Country A,s stock exchange, purchased by the airline to speculate =P2,715. • Oil price derivative entered…
B. The cash accounts of Ria on December 31,2021 has balance of P151,000 and it consist of the following: Bills and coins on hand P52,780 22,400 6,500 Traveler's check Credit memo from supplier's for purchase returns Postage stamp Petty cash including paid cash vouchers of P1,650 Balance in Savings Account wit a bank closed by BSP Customer's check dated January 15,2022 Money order IOU of an employee Checking Account Balance in Bank of Philippines Island Total 120 2000 36,000 8,000 800 400 22,000 P151,000 The correct cash and cash equivalents balance on December 31,2021 is a. P98,900 b. P98,730 c. P97,530 d. P98,330
Callous Company reported the following accounts on December 31, 2020: Cash on hand Petty cash fund Philippine Bank current account City Bank current account No. 1 City Bank current account No. 2 (overdraft) Asia Bank saving account Asia Bank time deposit, 90 days 200,000 20,000 5,000,000 4,000,000 ( 100,000) 250,000 2,000,000 Cash on hand included the following items: Customer check for P35,000 returned by bank December 26, 2020 due to insufficient fund but subsequently redeposited and cleared by the bank on January 10, 2021. Customer check for P15,000 dated January 10, 2021, received December 23, 2020. The petty cash fund consisted of the following items: Currency and coins IOUS from officers Unreplenished petty cash vouchers 5,000 2,000 12,000 Included among the checks drawn by Callous Company against the Philippine Bank current account and recorded in December 2020 were the following: Check written and dated December 23, 2020 and delivered to payee on January 31, 2021, P25,000.…