Your count of the undeposited receipts under the custody of the cashier of Abaca Company on September 30, 2020 showed the following: Coins and currency Unused Postage Stamps Checks: Date 4,950 90 Payee Abaca Company Abaca Company Drawee Exporter Corporation Manda Rambong Abaca Company 9/25/2020 1,200 9/28/2020 900 9/30/2020 Meralco 1,050 Travel expense vouhcer paid out of cash receipts Total per count 600 8,790 Question: Assume the cashier's accountability to be P 8,500, what was the amount of cash overage/shortage on September 30, 2020?

Your count of the undeposited receipts under the custody of the cashier of Abaca Company on September 30, 2020 showed the following: Coins and currency Unused Postage Stamps Checks: Date 4,950 90 Payee Abaca Company Abaca Company Drawee Exporter Corporation Manda Rambong Abaca Company 9/25/2020 1,200 9/28/2020 900 9/30/2020 Meralco 1,050 Travel expense vouhcer paid out of cash receipts Total per count 600 8,790 Question: Assume the cashier's accountability to be P 8,500, what was the amount of cash overage/shortage on September 30, 2020?

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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Question

Your count of the undeposited receipts under the custody of the cashier of Abaca Company on September 30,
2020 showed the following:
Coins and currency
4,950
Unused Postage Stamps
90
Checks:
Date
Payee
Abaca Company
Drawee
Exporter Corporation
Manda Rambong
Abaca Company
9/25/2020
1,200
9/28/2020
Abaca Company
900
9/30/2020
Meralco
1,050
Travel expense vouhcer paid out of cash receipts
Total per count
600
8,790
Question:
Assume the cashier's accountability to be P 8,500, what was the amount of cash overage/shortage on
September 30, 2020?

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