ABC Co established a petty cash fund of P40,000. Fund disbursements during the period was P27,363. The petty cash count at the end of the period revealed total bills and coins of P12,834. To replenish the fund at the end of the period, ABC Co should write a check in the amount of: 26,969 27,166 27,363 27,560

ABC Co established a petty cash fund of P40,000. Fund disbursements during the period was P27,363. The petty cash count at the end of the period revealed total bills and coins of P12,834. To replenish the fund at the end of the period, ABC Co should write a check in the amount of: 26,969 27,166 27,363 27,560

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

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ABC Co established a petty cash fund of P40,000. Fund disbursements during the period was P27,363. The petty cash count at the end of the period revealed total bills and coins of P12,834.
To replenish the fund at the end of the period, ABC Co should write a check in the amount of:

26,969

27,166

27,363

27,560

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Kk.435.
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