Required: You are required to write-up the petty cashbook.
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AMMAH Ventures operates a Petty Cash on the imprest system with a float of GHC600. Reimbursements are made such that cash on hand does not fall below GHC72. Below is a summary of Petty Cash transactions for the period to 31 July, 2017
|
|
|
GH Cedis |
|
July 1 |
Received reimbursement by cheque from cashier |
504 |
|
July 3 |
Paid Wages |
204 |
|
July 5 |
Paid Rent and Rates |
90 |
|
July 7 |
Paid Wages and Salaries |
180 |
|
July 8 |
Paid Electricity |
51 |
|
July 11 |
Paid for transport |
18 |
|
July 12 |
Paid for transport |
24 |
|
July 13 |
Paid Wages |
108 |
|
July 14 |
Paid Rent and Rates |
33 |
|
July 15 |
Paid Wages |
132 |
|
July 17 |
Paid Koo Nimo a creditor |
110 |
|
July 18 |
Paid for transport |
60 |
|
July 19 |
Paid Electricity |
15 |
|
July 20 |
Paid K. Ansah a creditor |
24 |
|
July 21 |
Paid for transport |
21 |
|
July 25 |
Paid Rent and Rates |
108 |
|
July 29 |
Paid Wages and Salaries |
288 |
|
July 31 |
Paid for transport |
84 |
Required:
You are required to write-up the petty cashbook.
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- ANIMAH Ventures operates a Petty Cash on the imprest system with a float of GHC600. Reimbursements are made such that cash on hand does not fall below GHC72. Below is a summary of Petty Cash transactions for the period to 31 July, 2017.GHCJuly 1 Received reimbursement by cheque from cashier 504July 3 Paid Wages 204July 5 Paid Rent and Rates 90July 7 Paid Wages and Salaries 180July 8 Paid Electricity 51July 11 Paid for transport 18July 12 Paid for transport 24July 13 Paid Wages 108July 14 Paid Rent and Rates 33July 15 Paid Wages 132July 17 Paid Koo Nimo a creditor in full 110July 18 Paid for transport 60July 19 Paid Electricity 15July 20 Paid K. Ansah a creditor 24July 21 Paid for transport 21July 25 Paid Rent and Rates 108July 29 Paid Wages and Salaries 288July 31 Paid for transport 84Required:You are required to write-up the petty cashbook.QUESTION 3 Megah Berani Enterprise received monthly bank statement for the month of December 2021. The bank statement showed the following: MAYBANK BERHAD BANK STATEMENT AS AT 31 DECEMBER 2021 Cheque No. Date Particulars Debit Credit Balance RM RM RM 1 Dec Opening balance 75,000 4 Dec Credit transfer 6 Dec Cheque 8,800 83,800 123475 12,000 71,800 6 Dec Deposit BMB213492 34,000 105,800 7 Dec Deposit CIMB247022 43,000 148,800 16 Dec Deposit BIB121331 29,500 178,300 17 Dec Cheque return 18 Dec Cheque BIB121331 29,500 148,800 BSN249081 10,000 158,800 23 Dec Cheque 123477 45,000 113,800 29 Dec Standing order 16,000 97,800 30 Dec Cheque 123478 21,000 76,800 30 Dec Deposit 31 Dec Bank Charges BIB346483 6,000 82,800 250 82,550 31 Dec Dividend/interest 275 82,825 31 Dec Credit transfer 5,300 88,125 The cash book of Megah Berani Enterprise is as below; Cash Book (Bank Column) RM Date Details Date Dec. Details Dec 6 TNB- Electricity Chq. No. 123475 15 Kaktus Trading Chq. No. 123476 23 Salary &…The following items are found in the cash account of AAA Company at December 31, 2021. The company’s controller asks your opinion whether the items listed below should be considered as part of cash account and come up with an adjusting entry to adjust the cash account.• A check worth P288,000 from customer who paid the account net of the 4% discount. The company records the transaction as credit to Accounts Receivable for the proceeds.• Postage stamps, P1,000;• Cash in closed bank (F Bank), P195,000;• Redemption fund, P300,000;• Sinking fund, P300,000. This will be used on May 1, 2022 to redeem the bonds payable;• Change fund, P25,000;• X Bank Checking Account No. 0004568, P410,000.• Y Checking Account No. 0002347, P275,000.;• Overdraft in Z Checking Account No. 00011256, P150,000 resulting from a withdrawal of a company’s check dated January 3, 2022 in payment of account, P450,000. This was recorded in the company’s disbursement ledger at December 31, 2021;• Overdraft in X Checking…
- Here is the following information given for Amazon Traders account. The reconciliation on June 30 showed that the Bank Ledger Account had a credit balance (overdraft/owing) of $3,182.90. The Bank Statement had reconciled to the Bank Ledger Account after allowing for: An outstanding deposit $733.10 and ● • Unpresented cheque #324856 for $934.02 July Cash Receipt and Payments: Extract Cash Receipts Book of Amazon Traders 02/07 07/07 11/07 11/07 12/07 21/07 30/07 BMS Bank Statement for the month of July Date Particulars Brought forward 01/07 Cheque #324875 The BMS Bank Bank Statement for Amazon Traders Debit Credit Cash/cheques deposit 02/07 Cash/cheques deposit 05/07 Cheque #324856 07/07 Cash/cheques deposit 11/07 Cash/cheques deposit 12/07 Cheque #324877 Cash/cheques deposit $ 1,446.52 01/07 3,486.72 04/0 1,538.90 08/07 436.84 12/07 2,360.20 15/07 1,039.30 20/07 846.76 28/07 15/07 Cheque book fee 17/07 Cheque #324879 18/07 Cash/cheques deposit 21/07 Cheque #324878 24/07 L. Mami cheque…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…
- QI AL- Kauther Company deposits all receipts and makes all payments by check. The following information is available from the cash records. 1- The bank statement for August 2014 shows an ending balance of $ 3490. 2- On August 31 the bank statement shows charges of $35 for the service charge for maintaining the checking account. 3- On August 28 the bank statement shows a return item of $ 100 plus a related bank fee of 10$. The return item is a customer's check that was returned because of insufficient funds. The check was also marked "do not redeposit." 4- The bank statement shows a charge of $80 for check printing on August 20. 5- The bank statement shows that $8 was added to the checking account on August 31 for interest earned by the company during the month of August. 6- The bank statement shows that a note receivable of $1,000 was collected by the bank on August 29 and was deposited into the company's account. On the same day, the bank withdrew $40 from the company's account as a…comparison, the following items of differences were found with pass book. On 30th June 2018 the cash book of a trader shows a deposit balance of ? 4,800. Howeve Prepare a statement to ascertain the balance as per pass book. From the following particulars you are required to ascertain the bank balance as would a Interest of 1,425 on overdraft upto 31st July 2019 has been debited in the bank 4. Cheques issued prior to July 31st 2019 but not presented till that date amounte 3lntiest etscovedited in the entried but not 152 3. Accountancy -I (et) Direct payment by a customer to bank 420 ehoplon (b) Interest on deposit credited by bank (c) Insurance premium paid by bank (d) Bank charges in pass book 180 80 80 (Ans: Balance as per pass book . 4. the cash book of K. Bharathan as on July 31st 2019. appe In th 1. ne bank pass book showed an overddraft of E 18.700 on July 31st 2019. 2. ing and accoun book, but it has not been entered in the cash book. one ace follows If we ta balanc of veri by pr…The cash receipts and cash payments of Detuya Company for April 2020 follow: CASH RECEIPTS CASH PAYMENTS Cash Debit Check No. Cash Credit P 44,550 7,350 96,500 33,200 73,600 Date Apr. 2 8 P 208,700 20,350 27,950 109,350 92,700 4113 4114 10 4115 16 4116 22 4117 29 53,000 16,850 4118 50,000 31,600 83,750 5,000 120,650 30 4119 4120 4121 4122 Detuya Company received the following bank statement on April 30, 2020: BANK STATEMENT April 2020 P 95,550 Beginning balance Add: Deposits and other credits: Apr. 1 P 16,300 Electronic fund transfer 208,700 20,350 27,950 109,350 68,400 Bank collection 92,700 4 9 12 17 22 23 543,750 Less: Checks and other debits: Apr. 7 13 P 44,550 69,500 45,150 Unauthorized signature 7,350 33,200 10,950 Electronic fund transfer 73,600 50,000 1,000 Service charge 14 15 18 21 26 30 30 335,300 P 304,000 Ending balance
- On 31st December 2010 ,the balances at bank as shown by the cash book was sh25370 where the bank statement showed a credit balance at sh 25670.comparison at the cash book with the bank statement showed the following differences. a) cheques not presented for payment sh 12340 b) cheques paid to the bank but not credited by bank sh 12160 C)items shown in the bank statement but not yet entered in cash bank Bank charges. Sh 240 Standing orders. Sh 460 Dividends. Sh 820 Required a) adjust cash book b) Bank reconciliation statement7. Accompanying the bank statement was a credit memorandum for a short-term, noninterest-bearing note collected by the bank. What entry is required in the depositor’s accounts?a. Debit Cash; credit Miscellaneous Incomeb. Debit Cash; credit Notes Receivablec. Debit Accounts Receivable; credit Cashd. Debit Notes Receivable; credit Cash 8. On January 1, 2020, Point Luna Corporation sold inventory costing P1,800,000 with a list price of P2,200,000 and a cash price of P2,000,000 in exchange for a P2,400,000 noninterest-bearing note due on December 31, 2022. How much is the initial measurement of the receivable?a. 1,800,000b. 2,200,000 c. 2,000,000 d. 2,400,000 9. On January 1, 2020, ABC Co. sold a transportation equipment with a historical cost of P1,000,000 and accumulated depreciation of P300,000 in exchange for cash of P100,000 and a noninterest-bearing note receivable of P800,000 due on January 1, 2023. The prevailing rate of interest for this type of note is 12%. How much is the…6. Keli Trading maintain a petty cash book based on the imprest system since its commencement. At the end of the period, the amount spent will be reimbursed to the petty cashier. Below are the summary of the petty cash transactions provided by Keli Trading for the month of October 2011. RM October 1 Cash float 300 3 Paid postages 50 4 Purchased envelopes 3 5 Paid cleaning 30 7 Paid ticket bus 15 10 Paid petrol 15 13 Bought pen and pencils 5 15 Bought paper clips 10 18 Bought stamps 6 19 Paid petrol 20 22 Paid taxi fares 15 25 Printing paper 29 29 Purchased stamp pad ink 45 30 Paid cleaning 30 Required: Prepare a petty cash book for Keli Trading for the month of October 2011 with analysis columns for expenditure on cleaning, postages, stationery and travelling.