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PROBLEM 7. In your year end audit of A. Bonifacio Corporation, the Cashier showed a...

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PROBLEM 7. In your year end audit of A. Bonifacio Corporation, the Cashier showed a cash accountability of P 240,000 as at December 31, 2019. The following transaction are summarized for the year 2020: Disbursements for costs and expenses 15,000,000 Income Tax Payable 200,000 Payment of Notes Payable to BPI 800,000 Proceeds of BDO borrowings - one year 2,000,000 Ordinary Shares Subscribed 18,000,000 Ordinary Shares Subscription Receivable 6,000,000 Acquisition of various property and equipment 9,000,000 Depreciation of property and equipment 600,000 Accounts written off 100,000 Collection from credit sales 11,200,000 17. What is the cashier's accountability

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