The BOD of Nancy Inc. authorized the set-up of petty cash fund on December 1, 2020...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The BOD of Nancy Inc. authorized the set-up of petty cash fund on December 1, 2020 with an imprest balance of P30,000. The following transactions occurred in December in relation to the petty cash fund. Dec. 1 A check amounting to P30,000 was drawn payable to Jo Torres, custodian. Jo Torres presented the following petty cash vouchers with supporting documents for replenishement. Currencies on hand was at P16,000. PCV #/Date Particulars Amount 15 101/ Dec. 5 Utilities P5,000 102/ Dec. 9 Office supplies 4,500 103/ Dec. 13 Advances to employees 3,000 What is the amount of the replenishment check on December 15? The BOD of Nancy Inc. authorized the set-up of petty cash fund on December 1, 2020 with an imprest balance of P30,000. The following transactions occurred in December in relation to the petty cash fund. Dec. 1 A check amounting to P30,000 was drawn payable to Jo Torres, custodian. Jo Torres presented the following petty cash vouchers with supporting documents for replenishement. Currencies on hand was at P16,000. PCV #/Date Particulars Amount 15 101/ Dec. 5 Utilities P5,000 102/ Dec. 9 Office supplies 4,500 103/ Dec. 13 Advances to employees 3,000 What is the amount of the replenishment check on December 15?
Expert Answer:
Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
Posted Date:
Students also viewed these accounting questions
-
Shawnee Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the companys fiscal year). May 1...
-
Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the companys fiscal year). May 1 Prepared...
-
Dylan Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the companys fiscal year). May 1 Prepared...
-
List three common situations that suggest that relations be denormalized before database implementation.
-
Examine the credit card loss rates and personal bankruptcy filings in Exhibit 15.4. What might explain the increase in both measures after 1994 in a period when economic growth in the United States...
-
Perform the indicated calculations using a calculator. All numbers are approximate. 0.0000569(3,190,000)
-
Explain which types of apartments would best suit two friends who plan to become roommates.
-
FASTPACK Manufacturing produces filament packaging tape. In 2014, FASTPACK produced and sold 15,000,000 rolls of tape. The company has recently expanded its capacity, so it now can produce up to...
-
Crane Corporation will receive $14500 today (January 1, 2025), and also on January 1 for the next five years (2026 - 2030). What is the present value of the six $14500 receipts, assuming a 8%...
-
Unexpected Indent /2 In Python, we increase the indentation level of our code to define a new block for statements like def. Indentation is expected to be consistent. The code below uses inconsistent...
-
. 2. Agile Company's check book lists the following: Items Date Check Items Check Deposit Balance no July 1 7875 5622 Cherry Bee Gift Shop 285 7590 9 Dividends 1740 9330 13 5623 PLDT Co 675 3655 14...
-
A company currently pays a dividend of $2per share (D 0 = $2). It is estimated that the company's dividend will grow at a rate of 18% per year for the next 2 years, and then at a constant rate of 7%...
-
The total budget for launching a credit card is $1,000,000. New product targets customer from z generation and it will be distributed visa call centre and company website. one deliverable is call...
-
Discuss the concept of genetic linkage and how it relates to the physical distance between genes on chromosomes, as well as its significance in genetic mapping and understanding patterns of...
-
You are a sales representative of an Estonian company and your job is to broker domestic wild berries to the UK market. You have just reached an agreement to deliver 60 000 kg of berries to UK at a...
-
The Nantucket Nugget's current debt-to-equity ratio is 40% and pays no taxes. The firm currently has $4 million worth of debt outstanding. Nantucket is considering increasing its debt-to-equity ratio...
-
If a linear trend forecast is Sales = 75+7(Ad $), 7 means For every one unit increase in ad dollars, sales increase by 7 For every 7 units increase in sales, advertising dollars go up by one dollar...
-
Design and describe an application-level protocol to be used between an automatic teller machine and a bank's centralized computer. Your protocol should allow a user 's card and password to be...
-
The accounts below are taken from the ledger of Bartel Music Consulting on 30 June 2016, the end of the current financial year. Required A. Record the closing entries which affected the accounts. B....
-
The following comparative statements of financial position and income statement are for the business of Bargains Galore Pty Ltd: Bargains galore PTY LTD Comparative Statements of Financial Position...
-
Explain the difference between the payment of cash dividends by a company and the withdrawal of cash by a sole trader. What is the effect of each on assets? On equity? On profit?
-
1.2 Pokmon GO. Crystal Gomez, who lives in Mexico City (as noted in Global Finance in Practice 1.2 in the chapter), bought 100 Pokcoins for 17 Mexican pesos (Ps or MXN). Nintendo of Japan, one of the...
-
1.3 Isaac Dez of Brazil. Isaac Dez Peris lives in Rio de Janeiro, Brazil. While attending school in Spain, he meets Juan Carlos Cordero from Guatemala. Over the summer holiday, Isaac decides to visit...
-
1.4 Munich to Moscow. For your post-graduation cel- ebratory trip, you decide to travel from Munich, Germany, to Moscow, Russia. You leave Munich with 15,000 euros (EUR) in your wallet. Wanting to...
Study smarter with the SolutionInn App