Question
Farina Company has a petty cash fund of P10,000 on March 1, 2024. On March 31, 2024, the petty cash count revealed a total amount
Farina Company has a petty cash fund of P10,000 on March 1, 2024. On March 31, 2024, the petty cash count revealed a total amount of P2,500. Expenses incurred using the petty cash fund amounted to P3,000 with petty cash vouchers and P1,500 supported only by official receipts. Included in the petty cash box is a check payable to petty cash custodian amounting to P2,500. How much is cash overage or shortage on March 31, 2024?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
