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Imprest Fund System Currency P1,650 Petty cash vouchers: Postage 420 Office supplies expense 900 Transportation expense 340 Computer repairs 800 Advances to office staff 1,500 A check drawn by Samantha, Inc., payable to the petty cash custodian 7,200 Postage stamps 300 An employee’s check, returned by bank, marked NSF 1,000 An envelope containing the currency of for a gift for a retiring employee 1,890 TOTAL P16,000

Imprest Fund System Currency P1,650 Petty cash vouchers: Postage 420 Office supplies expense 900 Transportation expense 340 Computer repairs 800 Advances to office staff 1,500 A check drawn by Samantha, Inc., payable to the petty cash custodian 7,200 Postage stamps 300 An employee’s check, returned by bank, marked NSF 1,000 An envelope containing the currency of for a gift for a retiring employee 1,890 TOTAL P16,000

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.9MCE
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Imprest Fund System

Currency P1,650
Petty cash vouchers:
Postage 420
Office supplies expense 900
Transportation expense 340
Computer repairs 800
Advances to office staff 1,500
A check drawn by Samantha, Inc., payable to the
petty cash custodian 7,200
Postage stamps 300
An employee’s check, returned by bank, marked NSF 1,000
An envelope containing the currency of for a gift for a retiring employee 1,890

TOTAL P16,000

 

Show the adjusting entries at the end of the period.

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