Question
Petty Cash Fund Problem Chi Company had a 16,000 imperest balance petty cash fund which included the ff. details: Coins & currency [2,000] Paid vouchers:
Petty Cash Fund Problem
Chi Company had a 16,000 imperest balance petty cash fund which included the ff. details:
Coins & currency [2,000]
Paid vouchers:
Transportation [600]
Gasoline [400]
Office Supplies [500]
Due from employees [1,200]
Employee's check returned by bank marked "NSF" [1,000]
Check drawn by entity to the order of petty vash custodian [4,000]
Return value of 20 cases of softdrinks [200]
Postage stamps [300]
A check drawn on December 31, 2015 payable to petty cash [3,000]
IOUs from employees [500]
Employees' Vales [700]
An envelope with a sheet of paper containing the names of several employees stating the contribution for a birthday party amounting to a total of [1,500] but the said amount is not found inside the envelope.
1. How much is the petty cash acocunted?
2. How much are the petty cash accountabilities?
3. How much is the adjusted petty cash fund balance?
4. How much is the amount to be replenished?
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