Question: Can you help me find the answer and solutions for this? Oust the Turtle Corporation's petty cash fund, which has an imprest balance of P5,000
Can you help me find the answer and solutions for this?
Oust the Turtle Corporation's petty cash fund, which has an imprest balance of P5,000 showed a composition when counted as follows: Bills 1,000 Coins 40 Vouchers - Transportation 1,200 Vouchers - Gasoline 889 Vouchers - Supplies 1,872 How much is petty cash fund?On December 31, 2020, Oust the Turtle Corporation had the following: Petty cash fund 200,000 Cash in bank A 123,456 Time deposit acquired on April 1, 2020, maturing on January 1, 2021 2,500,555 Treasury bills maturing on December 31, 2021, acquired on December 31, 2020 2,000 Cash in bank B 676,777 Cash in bank C 711,711 . Cash in bank B is set aside for purchase of vehicles . Cash in bank A is frozen by the court by virtue of a case filed by the Bureau of Internal Revenue How much should be reported as cash on December 31, 2020
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts


