The balance of the fund appeared in the books of the company at an amount of 200 dinars, and upon inventorying the actual cash in the fund, an amount of 600 dinars was found Required: To make the necessary registration on the basis that the cashier is an ordinary employee who receives a monthly salary of 200 dinars, where he has suspended the difference amount, and later it becomes clear that the amount that he suspended belongs to one of the clients and the cashier closed the suspended record accordingly.

The balance of the fund appeared in the books of the company at an amount of 200 dinars, and upon inventorying the actual cash in the fund, an amount of 600 dinars was found Required: To make the necessary registration on the basis that the cashier is an ordinary employee who receives a monthly salary of 200 dinars, where he has suspended the difference amount, and later it becomes clear that the amount that he suspended belongs to one of the clients and the cashier closed the suspended record accordingly.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 33P

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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?
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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 to