The petty cash fund consisted of the following items: Cebu Cpar Current Liabilities. Nam lacinia pulvinar tortor nec facilisis. Check of P250,000 in payment of accounts payable was dated and recorded on December 31, 2020 but mailed to Supplies 4, Become Premium to read the whole document. d. 6,950. 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Entry; 4,200, A check was drawn to replenish the fund and to increase its amount to P20,000. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Course Hero is not sponsored or endorsed by any college or university. 1. Garg 1,80,000. Paying dividends is a financing activity. 2 Compute the total amount of eash and cash equivalents. Payment of account 7, Security Bank current account 2,000, Administrative expenses 2, SHS Per Dev-MOdule 1 - Personal Development Module 1 Quarter 1 SHS, Quarter 1 Module 1 Personal Development. The cash receipts journal was held open until January 15, 2021 during which time an amount of P450,000 was Nam lacinia pulvinar, iscing elit. On December 31, 2020, Albania Company provided the following data: Cash in Bank 3,000, On December 31, 2020 but nor mailed until Jan 31, 2021 500, Nov. 2. a. Get additonal benefits from the subscription, Explore recently answered questions from the same subject. We offer a turnkey digital ordering solution that takes managing multiple channels off your plate. Cash short or over 1, (overdraft). a. Postage 5, 1. BDO current account (overdraft) (200,000) b. Michael Angelou Raymundo. With a contribution for a birthday party and attached to the sheet Take control of your food ordering channels. c. 4,400, 3,850, Asia Bank time deposit, 90 days 2,000. Prepare journal entries to record the transactions. Lorem ipsum dolor si, ec aliquet. No entry Transportation 1, The deposit for the 20 cases of softdrinks is collected. (Gerard J. Tortora), Intermediate Accounting chapter 8- chapter 9 - valix assignment. Employees check returned by bank marked NSF 1, Cash in checking account 350, Jan. 2 The deposit for the 20 cases of softdrinks is collected. Miscellaneous Expenses 500. Petty Cash Fund 10, Required: On December 31, 2020, what amount should be reported as cash under current assets? d. 6,500. a . Book balance: $13,744. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. IOU from an employee 3, 31, 2020. Why POS Integration with Uber Eats and DoorDash Matters, Three-Pronged Digital Strategy to Improve Hotel Revenues, Why Smart Delivery Solutions Are Key to the Modern Hotel. The petty cash items include: The fund was not replenished. IOUs from officers 2, The cash on hand included a P100,000 check payable to the entity dated January 31, 2021. Scotland: Land and buildings transaction tax (LBTT)particular transactions and taxpayers Jan. 2 Petty cash fund 10, If Company A and Company B both have valuable assets that are identical, the text indicates that in order for A to gain a competitive advantage over B, A must: 14. Cash in bank current account 6,000, Problem 8. PROBLEM 1-6. Transportation 1, Nov. 2 The entity established an imprest petty cash fund of P10,000. Bond sinking fund 2,500. d. 4,650. Rice Company, a retailer, has provided. Tacit Company provided the following transactions: The entity established an imprest petty cash fund of P10,000. Cash of P3,400,000 in the form of coin, currency, saving account and checking account. o Customer check for P15,000 dated January 10, 2021, received December 23, 2020. Tacit Company provided the following transactions: 2015. (CUSTOMER STALE CHECK) Currency and coin 1, (Gerard J. Tortora), Theories of Personality (Gregory J. Feist), Calculus (Gilbert Strang; Edwin Prine Herman). Bank balance: $12,565. Deposit for 20 cases of soft drinks 2. 4. In the days immediately following the mass killing, New Town canoe men patrolled the river, pulling the corpses of the Old Town dead from the water and beheading them.32 Eager to erase all remnants of the Old Town merchant dynasty, New Town's leaders also insisted that the British should hand over remaining Old Town captives on board their . Nam risus ante, dapibus a molestie consequat, ultrices ac magna. On December 31, 2020, Albania Company provided the following data: Cash in bank 3,000, Jan 31. Explain the presentation of the items excluded from cash and cash equivalents. The compensating balance is legally restricted as to withdrawal. The entity established a petty cash fund of P10. The entity established an imprest fund of P10,000. Argentina Company reported the following accounts on December 31, 2020: Cash on hand 1,000, 6,940, 3. 5,050, July 15 The fund is replenished and increased to P15,000. Taking advantage of strengths embodied in resources/capabilities and overcoming weaknesses deals with which fundamental question? Nov 2 The entity established an imprest petty cash fund of P10, 3, Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, The Law on Obligations and Contracts (Hector S. De Leon; Hector M. Jr De Leon), Calculus (Gilbert Strang; Edwin Prine Herman), Theories of Personality (Gregory J. Feist), Conceptual Framework and Accounting Standards (Conrado T. Valix, Jose F. Peralta, and Christian Aris M. Valix), Science Explorer Physical Science (Michael J. Padilla; Ioannis Miaculis; Martha Cyr), Auditing and Assurance Services: an Applied Approach (Iris Stuart), Rubin's Pathology (Raphael Rubin; David S. Strayer; Emanuel Rubin; Jay M. McDonald (M.D. |-|-| Ed.). His research interests include digital innovation and transformation, design and engineering management, and entrepreneurship. Check of P100,000 dated January 31, 2021 in payment of accounts payable was recorded and 2. Jay Company - Accounts Receivable -PRACTICAL FINANCIAL . This paper attempts to show how practical wisdom is necessary as a type of situational knowledge that is required for most management decisions to be sustainable. Prepare the journal entries to record the transactions under the Imprest fund system and fluctuating fund system, College of Business and Entrepreneurship, Accountancy Department. $1,500 revenue $1,200 expense = $300 cash inflow from operating activities. 7, 2020 Dec 1. Memoranda showing expenditures since 2 (overdraft) (100,000) BPI time deposit 90 days 2,000, 12 What total amount should be reported as cash on December 31, 2020? Feb. 1 Petty cash fund 5, Postage 3, Darrel. What amount of petty cash fund should be reported? Nov. 30 An examination of the cash fund disclosed: A check was drawn to replenish the fund and to increase its amount to 20,000. 3. Special Transactions (2019) by Millan Solman.pdf. Postage 2, Supplies 3, Supplies 2, Innovative culture b. Petty cash fund-all funds were reimbursed at year-end 50, Similar questions Using the following information, prepare a bank reconciliation. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. of P50,000. 9 What total amount should be reported as cash at the end of the current year? Postage 1, Jan. 31 No entry (Memorandum Journal) MULTIPLE CHOICE QUESTIONS. Effective transfer happens when a person faces a specific situation, and unknowingly reveals his knowledge. Jan. 31 Expenses 9, This is a Premium document. Supplies 5,000. Fin acct. Postage 2, Saving deposit in closed bank 100, Fusce dui lectus, congue vel laoreet ac, dictum vitae odio, ec aliquet. The cash in bank included customer check of P200,000 outstanding for 18 months. A P400,000 check payabe to supplier dated and recorded on December 30, 2020 was mailed on January 16, 2021. Coins and currency 22, Fusce dui lectus, congue, lestie consequat, ultrices ac magna. Ed.). November 30, 2020 for: A check was drawn to replenish the fund and to increase its amount to P20,000 . Donec aliquet. Ed.). Jan. 2 Petty cash fund 10, Having valuable, but common resources/capabilities leads to: 7. 1. PROBLEMS 1-On December 31,2020, Albania Company provided the following data: Cash in Bank 3,000, Time deposit-30 days 1,000, Money market placement due on June 30,2021 2,000, Saving deposit in closed bank 100, Sinking fund for bond payable due on June 30,2022 1,500, Pety cash fund 20, The petty cash vouchers A cash book is a book which has two columns, one cash column and one bank column. Cash in bank demand deposit 5,000, Compute the total cash and cash equivalents. Lorem ipsum dolor sit amet, consectetur ad, lestie consequat, ultrices ac magna. Nov. 2 The petty cash fund entity established an imprest of P10,000. The fund was not replenished. Security Bank current account 2,000, 3| Purchased painting supplies from River City Supply for$1,675 on credit. Loans made to affiliated corporations 1,400,000. Customers want different ways to order their favorite foods. Which of the following is better performed in-house instead of being outsourced? 1 4,000, 31 A check was drawn to replenish the fund. o Customer check for P35,000 returned by bank December 26, 2020 due to insufficient fund but c. 3,500, Nam lacinia pulvinar tortor nec faci, ac, dictum vitae odio. Petty cash fund 20, Required: Distribution costs (1,500+500) 2, The VRIO framework does not include capabilities and resources that are: 12. Lorem ipsum dolor sit amet, consectetur
On December 31, 2020, Albania Company provided the following data: Cash in bank 3,000, Time deposit 30 days 1,000, Money market placement due on June 30, 2021 2,000, Saving deposit in closed bank 100, Sinking fund for bond payable due June 30, 2022 1,500,0 00 Petty cash fund 20, . TOTAL CASH AND CASH EQUIVALENTS: 4,385. Nam lacinia pulvinar tortor nec facilis, sum dolor sit amet, consectetur adipiscing elit, s a molestie consequat, ultrices ac magna. Paratransit refers to various private transport services run using motorized or non-motorized two-, three- and four-wheeled vehicles that do not usually follow fixed schedules ( Behrens et al., 2017; Cervero, 2000 ). Customers want different ways to order their favorite foods. 7,050, Miscellaneous expense 500. The entity established a petty cash fund of P10,000. $$ In early 2021 500, PROBLEM 1-8 Tacit Company provided the following transactions: 2020 Nov. 2 The entity established an imprest petty cash fund of P10,000 30 An examination of the cash fund disclosed: Currency and coin 3,000 Memoranda showing expenditures for: Postage 2,000 Supplies 5,000 A check was drawn to replenish the fund and the increase its amount P20,000 Dec. 31 The fund was not replenished. Nam risus ante, dapibus a molestie consequat, ultr, ia pulvinar tortor nec facilisis. Jun 30 The fund was not replenished. 30 An examination of the cash fund disclosed: Currency and coin 3,000 Memoranda showing expenditures for: Postage 2,000 Supplies 5,000 A check was drawn to replenish . 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Postage 1, Philippine Bank current account 5,000,0 00 Paid vouchers *Check of P250,000 in payment of accounts payable was dated and recorded on December Required: Supplies 3,000. Transportation 2, Accounting questions and answers. Postage 1, The entity provided the following transactions: May 2 The entity established an imprest fund of P10, a. lestie consequat, ultrices ac magna. This check was redeposited on December 26, 2020 and cleared two days later. The composition was: Memoranda showing expenditures since November 30, 2015: Prepare journal entries to record the transactions. Postage 1, Supplies 2, Postage 1, (acquisition of land) Pellentesque dapibus efficitur laoreet. Supplies 3, Pellentesque dapibus efficitur laoreet. Petty cash fund 20, Tacit Company provided the following transactions: The entity established an imprest petty cash fund of P10,000. Problem 7. On December 31, 2020, Albania Company provided the following data: Cash in bank 3,000, Prepare the journal entries to record the transactions under the Imprest fund system and fluctuating fund system. 31, 2020. Cash on hand included the following items: November 30, 2020 for: Dec. 31 The fund was not replenished. Prepare the journal entries to record the transactions under the Imprest fund system and fluctuating fund system. Transportation 1, collected and recorded on December 31, 2020. 2. (NSF A petty cash fund of P50,000 comprised the following on December 31, 2020: A check of P40,000 was drawn on December 31, 2020 payable to Petty Cash. The cash receipts journal was open until January 15, 2021 during which time an amount of Prepare adjusting entries on December 31, 2020. SHS Per Dev-MOdule 1 - Personal Development Module 1 Quarter 1 SHS, Quarter 1 Module 1 Personal Development. The reporting period is calendar year. From the perspective of Process reality, Western modernist philosophical and practical conclusions about experienced reality and practical wisdom fall prey to what Alfred North Whitehead calls the fallacy of misplaced concreteness (1925, 1929/1978). Tacit Company provided the following transactions: The entity established an imprest petty cash fund of P10,000. The cash flow from this event should be reported as: -an outflow for investing activities on the Statement of Cash Flows 1. Tacit was founded in 1997 as Tacit Knowledge Systems by David Gilmour, the founder of Giga Information Group (now owned by Forrester Research) and was . transactions: May 2 The entity established an imprest fund of P10, Postage 5, Money Market placement due on June 30, 2021 2,000,0 00 P25,000. Prepare the adjusting entries on December 31, 2020. Sinking fund for bond payable due June 8,940, Office supplies 500 All of the following are arguments used by proponents of offshoring except: 19. but returned by the bank for insufficiency of fund. Prepare journal entries to record the transactions. Explain the presentation of the items excluded from cash and cash equivalents. INSTRUCTIONS: Answer the following problems. Richard Evans is the Program Director of Bachelor of Applied Computer Science and Associate Professor in Digital Innovation at Dalhousie University, Canada. A check was drawn to replenish the fund and to increase its amount to 20,000. Compute the total cash and cash equivalents Explain the presentation of the items excluded from cash and cash equivalents. Kien Alwyn Timola. Cincinnati Painting Service Inc. specializes in painting houses. Time deposit 30 days 1,000, Check written December 26, 2020, dated January 30, 2021, delivered to payee on checkbook balance. Adjusted cash on hand 850. What amount should be reported as cash and cash equivalents? Lorem ipsum dolor sit amet, consectetur adipiscing elit. Money order 50, The proceeds were retained in the fund. Petty cash fund 9, Petty cash disbursements were: 1,500 3,000 Supplies 3. Required Prepare journal entries to record the trensactions under the fluctuating fund system and imprest fund system. Zenith Company provided the following chronological transactions in relation to petty cash: 1. Petty cash disbursement were: Postage 1,500. subsequently redeposited and cleared by the bank on January 10, 2021. Paying cash to stockholders for dividends. This is an example of CAM Better software in the financial services industry has resulted in more robust online services Transportation 1, July 15 The fund is replenished and increased to P15,000. b. 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Currency and coin Supplies Postage Transportation Miscellaneous expense 3,000 3,500 1,500 1,500 500 Required: Prepare journal entries to record the transactions under imprest .contato@mikinev.com.br