Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

As of december 31, 20x1, the petty cash fund of TUMULT COMMOTION Co. with a general ledger balance of P15,000 comprises the following: Coins and

As of december 31, 20x1, the petty cash fund of TUMULT COMMOTION Co. with a general ledger balance of P15,000 comprises the following:

Coins and currencies:P2,550

Petty cash vouchers:

Gasoline for delivery equipmentP3,000

Medical supplies for employeesP2,040

IOU's

  • Advances to employees 2,220
  • A sheet of paper with names of several employees together with contribution to bereaved employee, attached is a currency of 2,400

Checks:

  • Checks drawn to the order of the petty cash custodian3,000

Personal checks drawn by the petty cash custodian2,400

Requirement : The entry to record the replenishment of the petty cash fund.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jan Williams, Susan Haka, Mark S Bettner, Joseph V Carcello

16th edition

1259692396, 77862384, 978-0077862381

More Books

Students also viewed these Accounting questions

Question

What are the four temperament types included in Pavlovs system?

Answered: 1 week ago

Question

Define the term finite element?

Answered: 1 week ago

Question

Personal role: This consists of service to family and friends.

Answered: 1 week ago