A surprise count of the petty cash fund of Jing Trading on July 4, 2021 showed the following: Currencies 5,600 Coins 450 Paid vouchers for: Office supplies (dated July 2, 2021) 1,750 Newspaper subscription for two weeks (dated June 29, 2021) 300 Loans to employees 3,000 Company check representing replenishment of petty cash fund 3,850 The company’s fiscal year ends of June 30. The petty cash fund was established for an amount of P15,000. What is the correct amount of petty cash fund at June 30, 2021? 6,050 9,900 11,650 15,000 How much is the shortage or overage in the petty cash fund at June 30, 2021? Group of answer choices 50 shortage 50 overage 1,800 shortage 1,800 overage
A surprise count of the petty cash fund of Jing Trading on July 4, 2021 showed the following: Currencies 5,600 Coins 450 Paid vouchers for: Office supplies (dated July 2, 2021) 1,750 Newspaper subscription for two weeks (dated June 29, 2021) 300 Loans to employees 3,000 Company check representing replenishment of petty cash fund 3,850 The company’s fiscal year ends of June 30. The petty cash fund was established for an amount of P15,000. What is the correct amount of petty cash fund at June 30, 2021? 6,050 9,900 11,650 15,000 How much is the shortage or overage in the petty cash fund at June 30, 2021? Group of answer choices 50 shortage 50 overage 1,800 shortage 1,800 overage
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 7E
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Question
A surprise count of the petty cash fund of Jing Trading on July 4, 2021 showed the following:
|
Currencies |
5,600 |
|
Coins |
450 |
|
Paid vouchers for: |
|
|
Office supplies (dated July 2, 2021) |
1,750 |
|
Newspaper subscription for two weeks (dated June 29, 2021) |
300 |
|
Loans to employees |
3,000 |
|
Company check representing replenishment of petty cash fund |
3,850 |
The company’s fiscal year ends of June 30. The petty cash fund was established for an amount of P15,000.
What is the correct amount of petty cash fund at June 30, 2021?
6,050
9,900
11,650
15,000
How much is the shortage or overage in the petty cash fund at June 30, 2021?
Group of answer choices
50 shortage
50 overage
1,800 shortage
1,800 overage
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