Chapter 3 - Cash D. A count of the petty cash fund on January 3,...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Chapter 3 - Cash D. A count of the petty cash fund on January 3, 2022 revealed the following composition: P 7,300 Bills and coins Vouchers: December 2021 dates January 2022 dates IOUS (all dated December 2021) Employee's check dated December 27, 2021 Employee's check dated January 14, 2022 Unsigned pay envelope payable to an employee (the envelope has been opened and the money has been removed) 850 200 4,200 2,800 4,250 3.9 5,000 The balance of petty cash fund per books is P 15,000. 19 7. How much is the cash shortage or overage? Indicate whether shortage of overage. 8. What is the correct amount of the petty cash fund to be shown in the statement of financial position as of December 31, 2021
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
