As the representative of the Santos & Associates, CPAS, you are auditing the books and records...

  

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As the representative of the Santos & Associates, CPAS, you are auditing the books and records of SAMPAGUITA COMPANY as of Dec. 31, 2019. On Jan. 5, 2020, you began counting the petty cash fund and other funds with the cashier, Mrs. Ruth Moldes, and you found bills, coins, checks, vouchers, etc. The petty cash fund amounts to P600. 1. Bills and coins P280.40 2. Checks Date Dec. 24, 2019 Drawers R. Reyes, customer M.Cruz, customer Payees Sampaguita Co. Sampaguita Co. 120.00 Dec. 26, 2019 130.00 3. IOUS Date Employees Aga Nino N. Santos Oct. 21, 2019 25.00 Dec. 20, 2019 15.00 J. Lising B. Agets Dec. 23, 2019 10.00 Jan. 3, 2020 20,00 11 4. Unreplenished petty cash vouchers Date Dec, 15, 2019 Account Charged Freight In Adv. To Officers& Employees 5.00 Supplies Expense Supplies Expense Miscellaneous Expense Pavee UCP 13.65 M. Dilig Creus & Co. Dec. 17, 2019 Dec. 18, 2019 Dec. 20, 2019 8.75 Post Office 20,00 Dec. 21, 2019 N. Santos 10.20 Lerma Trading Supplies Expense 8.35 Dec. 21, 2019 Jan, 2, 2020 Supplies Expense of the purchuses last Dec, 20, 2019) J.A.Nite 16.00 5. Postage stamps(. 8.00 not left-overs Further investigation also disclosed that a cash sale of merchandise last Jan. 2, 2020 amounted to PS55.40 as shown hy the sales records, while the cash receipts and bank deposit slip showed that only P455.40 wus deposited at BDO on Jan, 3, 2020. You also found that the pay envelopes of the following employees had been opened and the money was not removed. Each envelope wus marked "Unclaimed" anid opened- W. Martinez- For the week ending Dec. 30, 2019 H. Bautista- For the woek ending Dec.23, 2019 P24.65 23.25 The solution includen the following: 1. Petty canh count sheet as of Jan, 5, 2020 2. Adjusting entries to update the books as of Dec. 31, 2019 As the representative of the Santos & Associates, CPAS, you are auditing the books and records of SAMPAGUITA COMPANY as of Dec. 31, 2019. On Jan. 5, 2020, you began counting the petty cash fund and other funds with the cashier, Mrs. Ruth Moldes, and you found bills, coins, checks, vouchers, etc. The petty cash fund amounts to P600. 1. Bills and coins P280.40 2. Checks Date Dec. 24, 2019 Drawers R. Reyes, customer M.Cruz, customer Payees Sampaguita Co. Sampaguita Co. 120.00 Dec. 26, 2019 130.00 3. IOUS Date Employees Aga Nino N. Santos Oct. 21, 2019 25.00 Dec. 20, 2019 15.00 J. Lising B. Agets Dec. 23, 2019 10.00 Jan. 3, 2020 20,00 11 4. Unreplenished petty cash vouchers Date Dec, 15, 2019 Account Charged Freight In Adv. To Officers& Employees 5.00 Supplies Expense Supplies Expense Miscellaneous Expense Pavee UCP 13.65 M. Dilig Creus & Co. Dec. 17, 2019 Dec. 18, 2019 Dec. 20, 2019 8.75 Post Office 20,00 Dec. 21, 2019 N. Santos 10.20 Lerma Trading Supplies Expense 8.35 Dec. 21, 2019 Jan, 2, 2020 Supplies Expense of the purchuses last Dec, 20, 2019) J.A.Nite 16.00 5. Postage stamps(. 8.00 not left-overs Further investigation also disclosed that a cash sale of merchandise last Jan. 2, 2020 amounted to PS55.40 as shown hy the sales records, while the cash receipts and bank deposit slip showed that only P455.40 wus deposited at BDO on Jan, 3, 2020. You also found that the pay envelopes of the following employees had been opened and the money was not removed. Each envelope wus marked "Unclaimed" anid opened- W. Martinez- For the week ending Dec. 30, 2019 H. Bautista- For the woek ending Dec.23, 2019 P24.65 23.25 The solution includen the following: 1. Petty canh count sheet as of Jan, 5, 2020 2. Adjusting entries to update the books as of Dec. 31, 2019

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Petty Cash Count Sheet Petty Cash Count Sheet Particulars Amount P Amount P Bills and Coin 28040 Che... View the full answer