Armenia Company reported the following information on December 31, 2022: Cash on hand, including NSF customer...
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Armenia Company reported the following information on December 31, 2022: Cash on hand, including NSF customer check P100,000 Petty cash fund Cash in bank The petty cash fund consisted of the following items: Currency and coins Employees' IOUS Currency in envelope marked collections for Christmas party Check drawn by Armenia payable to petty cashier * * 1,000,000 50,000 4,000,000 2,000 10,000 5,000 33,000 Check recorded and dated December 22, 2022 and delivered to payee on January 5, 2023, P200,000. Check recorded December 26, 2022 and dated January 31, 2023 delivered to payee on December 26, 2022, P300,000. Required: 1. Prepare adjusting entries on December 31, 2022. 2. Compute the total cash on December 31, 2022. Armenia Company reported the following information on December 31, 2022: Cash on hand, including NSF customer check P100,000 Petty cash fund Cash in bank The petty cash fund consisted of the following items: Currency and coins Employees' IOUS Currency in envelope marked collections for Christmas party Check drawn by Armenia payable to petty cashier * * 1,000,000 50,000 4,000,000 2,000 10,000 5,000 33,000 Check recorded and dated December 22, 2022 and delivered to payee on January 5, 2023, P200,000. Check recorded December 26, 2022 and dated January 31, 2023 delivered to payee on December 26, 2022, P300,000. Required: 1. Prepare adjusting entries on December 31, 2022. 2. Compute the total cash on December 31, 2022.
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1 2 PARTICULARS Amount Total cash balance as on 3112 2022 Una... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
Posted Date:
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