The petty cash fund of Guiguinto Company on December 31, 2005 is composed of the following:...
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The petty cash fund of Guiguinto Company on December 31, 2005 is composed of the following: Coins and currencies P14,000 Petty cash vouchers: Gasoline payments 3,000 Supplies Cash advances to employees 1,000 2,000 Employee's check returned by bank marked NSF Check drawn by the company payable to the order of Kristine 5.000 Anson, petty cash custodian, representing her salary 20,000 A sheet of paper with names of employees together with contribution for a birthday gift of a co-employee in the amount of Total 8,000 P53,000 The petty cash ledger account has an imprest balance of P50,000. What is the correct amount of petty cash on December 31, 2005? P34,000 b. P39,000 c. P14,000 d. P42,000 The petty cash fund of Guiguinto Company on December 31, 2005 is composed of the following: Coins and currencies P14,000 Petty cash vouchers: Gasoline payments 3,000 Supplies Cash advances to employees 1,000 2,000 Employee's check returned by bank marked NSF Check drawn by the company payable to the order of Kristine 5.000 Anson, petty cash custodian, representing her salary 20,000 A sheet of paper with names of employees together with contribution for a birthday gift of a co-employee in the amount of Total 8,000 P53,000 The petty cash ledger account has an imprest balance of P50,000. What is the correct amount of petty cash on December 31, 2005? P34,000 b. P39,000 c. P14,000 d. P42,000
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Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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