Assume that the petty cash fund was originally established at 10,000 on December 1, 2020. On...
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Assume that the petty cash fund was originally established at 10,000 on December 1, 2020. On December 31, no replenishment of the petty cash fund is made. A count and review of the fund revealed the following composition: Bills and Coins Petty Cash Vouchers for Transportation Office Supplies An employee advance 2,200 1,500 2,000 2,000 120 A check drawn by the company payable to the 1,000 order of fund custodian An employees check, returned by bank, stamped NSF 500 Several employees cash gift to departing 590 Representation employees Determine the cash shortage. Assume that the petty cash fund was originally established at 10,000 on December 1, 2020. On December 31, no replenishment of the petty cash fund is made. A count and review of the fund revealed the following composition: Bills and Coins Petty Cash Vouchers for Transportation Office Supplies An employee advance 2,200 1,500 2,000 2,000 120 A check drawn by the company payable to the 1,000 order of fund custodian An employees check, returned by bank, stamped NSF 500 Several employees cash gift to departing 590 Representation employees Determine the cash shortage.
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