The petty cash fund of Y Company at the end of the fiscal year ended Ju following: Currencies P3,800 Coins 1,200 Paid vouchers Office Supplies Postage stamps Loans to employees 1,7 2,0 6,000 Check drawn by the manager, returned by bank marked "NSF" Check drawn by the company, payable to the order of the petty cash custodian, representing her salary (accommodation check) 12,500 2,1 How much is the amount of petty cash fund that should be shown on the

The petty cash fund of Y Company at the end of the fiscal year ended Ju following: Currencies P3,800 Coins 1,200 Paid vouchers Office Supplies Postage stamps Loans to employees 1,7 2,0 6,000 Check drawn by the manager, returned by bank marked "NSF" Check drawn by the company, payable to the order of the petty cash custodian, representing her salary (accommodation check) 12,500 2,1 How much is the amount of petty cash fund that should be shown on the

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 2E

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

The petty cash fund of Y Company at the end of the fiscal year ended June 30, 2020, is composed of the
following:
Currencies
P3,800
Coins
1,200
Paid vouchers
Office Supplies
Postage stamps
Loans to employees
1,750
2,000
6,000
Check drawn by the manager, returned by bank marked "NSF"
Check drawn by the company, payable to the
order of the petty cash custodian, representing
her salary (accommodation check) 12,500
2,750
How much is the amount of petty cash fund that should be shown on the statement of financial position at
June 30, 2020 of Y Company?
A.30,000
B.20,250
C.17,500
D.7,750
O O O

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