In your year end audit of A. Bonifacio Corporation, the Cashier showed a cash accountability of P 240,000 as at December 31, 2019. The following transaction are summarized for the year 2020:
In your year end audit of A. Bonifacio Corporation, the Cashier showed a cash accountability of P 240,000 as at December 31, 2019. The following transaction are summarized for the year 2020:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In your year end audit of A. Bonifacio Corporation, the Cashier showed a cash
accountability of P 240,000 as at December 31, 2019. The following transaction are summarized for the
year 2020:
Disbursements for costs and expenses 15,000,000
Income Tax Payable 200,000
Payment of Notes Payable to BPI 800,000
Proceeds of BDO borrowings – one year 2,000,000
Ordinary Shares Subscribed 18,000,000
Ordinary Shares Subscription Receivable 6,000,000
Acquisition of various property and equipment 9,000,000
Accounts written off 100,000
Collection from credit sales 11,200,000
What is the cashier’s accountability?
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