. In your cash count of the petty cash fund of Canon Company as of July...
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. In your cash count of the petty cash fund of Canon Company as of July 4, 2020, you found the following items in the petty cash box: Bills and coins counted Approved and signed petty cash vouchers (a) (b) (c) Dated June 2020 Dated July 14, 2020 IOU from Joe Santos, an employee A check drawn by Juvy Victoria, an employee, dated July 15, 2020 An unsigned pay envelope, payable to an employee on leave, the envelope has been opened and there was no money inside. Indicated in the envelope is the amount of P 1,450 3,300 800 1,400 2,000 1,500 The petty cash fund has an imprest balance of P10,000. The company's reporting period ends on June 30. REQUIRED: Determine the amount of petty cash fund that will be included in the cash balance at June 30, 2020. Determine the amount of cash shortage or overage. Prepare the necessary adjusting entry to bring the petty cash fund to its correct amount at June 30, 2020. . In your cash count of the petty cash fund of Canon Company as of July 4, 2020, you found the following items in the petty cash box: Bills and coins counted Approved and signed petty cash vouchers (a) (b) (c) Dated June 2020 Dated July 14, 2020 IOU from Joe Santos, an employee A check drawn by Juvy Victoria, an employee, dated July 15, 2020 An unsigned pay envelope, payable to an employee on leave, the envelope has been opened and there was no money inside. Indicated in the envelope is the amount of P 1,450 3,300 800 1,400 2,000 1,500 The petty cash fund has an imprest balance of P10,000. The company's reporting period ends on June 30. REQUIRED: Determine the amount of petty cash fund that will be included in the cash balance at June 30, 2020. Determine the amount of cash shortage or overage. Prepare the necessary adjusting entry to bring the petty cash fund to its correct amount at June 30, 2020.
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a Bills and coins PCVS dated July 2020 undisbursed as of June 30 Adjusted balance of PCF b Per co... View the full answer
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
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