A cash account in the morning of January 2, 2020 showed the following items in the petty

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A cash account in the morning of January 2, 2020 showed the following items in the petty cash of BTS Corporation:

Currencies and coins counted- P2,512;

Company checks for replenishment- P18,000;

Approved and paid petty cash vouchers- P2,900;

Employees' IOUs- P36,000.

The petty cash fund was established for an amount of P60,000.

What is the correct amount of petty cash on the balance sheet as of December 31, 2020?

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Fundamental Accounting Principles

ISBN: 978-0078110870

20th Edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

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Posted Date: Sep 09, 2023 03:42 AM

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A cash account in the morning of January 2, 2020 showed the following items in the petty

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Fundamental Accounting Principles

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