Question
What is the correct balance of the petty cash fund? 2.How much is the cash shortage or overage? In your cash count of the petty
2.How much is the cash shortage or overage?
In your cash count of the petty cash fund of Targaryen Company as of July 4, 2020, you found the following composition of its petty cash fund: Bills and coins counted Approved and signed petty cash vouchers Dated June 2020 Dated July 1-4, 2020 IOU from Vyserion (Employee) A check drawn Drogon, an employee, dated July 15, 2020 2,450.00 3,300.00 800.00 1,400.00 2,000.00. The petty cash fund has an imprest balance of 10,000. The company's reporting period ends on June 30.
Step by Step Solution
3.39 Rating (149 Votes )
There are 3 Steps involved in it
Step: 1
To determine the correct balance of the petty cash fund we need to subtract ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
12th Canadian edition
119-49633-5, 1119496497, 1119496330, 978-1119496496
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App