28. On April 2020, Grapes Company established an imprest petty cash fund for P20,000 by writing a check drawn against its general checking account. On April 23, the fund contained the following: Currency and coins- P8,0003; Receipts for office supplies- P6,000; Receipts for postage (still unused)- P4,000; Receipts for transportation- P1,200. On April 24, the company wrote a check to replenish the fund. What is the amount of replenishment under the imprest fund system? A. P20,000 B. P14,000 C. P12,000
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- On June 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 June 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 June 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 $220. C. On June 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 June 29, the company determined that the petty cash fund needed to be increased to $1,000. E. On June 30, the petty cash fund needed replenishment, as it was month end. 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 $437.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.On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: A. On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $80. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment as it was month-end. The following are the receipts: Auto Expense $114, Supplies $75, Postage Expense $50, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.
- 8. On April 1, 2021, CPA 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?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?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 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…1. On September 1, 2020, Walls Company establishes a petty cash fund by issuing a checkfor $100 to Andrew Liu, the custodian of the petty cash fund. On September 19, 2020,Andrew Liu submitted the following paid petty cash vouchers:Freight-In $22Supplies Expense $13Entertainment of Clients $37Postage Expense $19The fund was replenished on September 19, 2020 when there is $7 cash in the fund andthe company decided to raise the fund to $150. Prepare the journal entries required to establish the petty cash fund on September 1and the replenishment of the fund on September 19.2. The petty cash fund was established on April 10, 2020, in the amount of $300. These arethe following expenditure made by petty cash custodian:Postage expense $27Mailing labels and other supplies $75.25I.O.U from employees $25Shipping charges (to customer) $47.50Newspaper advertising $33Miscellaneous expense $47.25On April 30, 2020 the petty cash fund was reimbursed when the cash in the fund is at$25. Prepare the…
- Hyacinth Company established an imprest petty cash fund for P10,000 by writing a check drawn against its checking account. On June 30, the fund contained the following: Currency and coins Petty cash voucher #1 Petty cash voucher #2 Petty cash voucher # 3 5,000 2,500 2,000 600 On June 30, the entity wrote a check to replenish the fund. What is the amount of replenishment under the imprest fund system? A. 10,000 В. 5,600 С. 5,100 O D. 5,000On 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?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?