F. Hai – Co is reviewing the cash accounting for Hei – Co. Hai – Co's review will focus on the petty cash fund account and the bank reconciliation for the month ended June 30, 2013. She has collected the following information from Hei – Co's bookkeeper for this task. 7 Petty cash fund 1. The petty cash fund was established on June 3, in the amount of P 10,000 2. Expenditures from the fund by the custodian as of June 30, 2013, were Office supplies IOUS from employees Shipping charges Other expenses evidenced by approved petty cash vouchers for the following: P 3,920 1,200 2,298 1,526 On June 30, the petty cash fund was replenished and increased to P 12,000; currency and coins in the fund at that time totaled P 756.
F. Hai – Co is reviewing the cash accounting for Hei – Co. Hai – Co's review will focus on the petty cash fund account and the bank reconciliation for the month ended June 30, 2013. She has collected the following information from Hei – Co's bookkeeper for this task. 7 Petty cash fund 1. The petty cash fund was established on June 3, in the amount of P 10,000 2. Expenditures from the fund by the custodian as of June 30, 2013, were Office supplies IOUS from employees Shipping charges Other expenses evidenced by approved petty cash vouchers for the following: P 3,920 1,200 2,298 1,526 On June 30, the petty cash fund was replenished and increased to P 12,000; currency and coins in the fund at that time totaled P 756.
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 2PB: On July 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare...
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These are the answers to the solution manual:
9. P(300)
10. P11,244
11.P368,720
Are they really the correct answers? Please show the computation from 9-11 please, thank you!
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