ABC, a government employee received an office order to attend a seminar in Manila. He requested for
Question:
ABC, a government employee received an office order to attend a seminar in Manila. He requested for cash advance in the amount of P27.000.00
Prepare the journal entries for the following:
a. The grant of cash advance to ABC in the amount of P27.000.00
b. Liquidation of cash advance in the amount of P27.000.00.
c. Liquidation of cash advance, however total expenses of ABC is only P25,000.00, he refunded the amount of P2.000.00. Prepare the entry to record the liquidation and refund.
2. Hadley, a collecting officer reported the following collection on September 1, 2022
OR No. 1-00001 Permit Fees 10,000.00
OR No. 1-00002 Registration Fees 3,000.00
OR No. 1-00003 Registration Fees 1,500.00
OR No. 1-00004 Processing Fees 2,500.00
On September 2. 2022 he deposited in the AGDB the total amount of P17.000.00
Prepare the journal entries on September 1 & 2, 2022.
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen