On April 1, 2021, VKS Co. established a petty cash fund for P80,000 by writing a check drawn against general checking account. On April 30, the funds contained the following: Currency and coins- P24,000 Receipts for office supplies- P32,000 Receipts for postage still unused- P16,000 Receipts for transportation- P4,800 On April 30, the company write a check to replenish the fund. What is the amount of replenishment under the imprest fund system?
On April 1, 2021, VKS Co. established a petty cash fund for P80,000 by writing a check drawn against general checking account. On April 30, the funds contained the following: Currency and coins- P24,000 Receipts for office supplies- P32,000 Receipts for postage still unused- P16,000 Receipts for transportation- P4,800 On April 30, the company write a check to replenish the fund. What is the amount of replenishment under the imprest fund system?
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 4EB: Record the following transactions: A. Started a petty cash fund in the amount of $1,000. B....
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On April 1, 2021, VKS Co. established a petty cash fund for P80,000 by writing a check drawn against general checking account. On April 30, the funds contained the following:
Currency and coins- P24,000
Receipts for office supplies- P32,000
Receipts for postage still unused- P16,000
Receipts for transportation- P4,800
On April 30, the company write a check to replenish the fund.
What is the amount of replenishment under the imprest fund system?
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