PROBLEM 1-8 Tacit Company provided the following transactions: 2020 Nov. 2 The entity established an imprest petty cash fund of P10,000 30 An examination of the cash fund disclosed: Currency and coin 3,000 Memoranda showing expenditures for: Postage 2,000 Supplies 5,000 A check was drawn to replenish the fund and the increase its amount P20,000 Dec. 31 The fund was not replenished. Jan. 31 No entry (Memorandum Journal) Time deposit 30 days 1,000, If Company A and Company B both have valuable assets that are identical, the text indicates that in order for A to gain a competitive advantage over B, A must: 14. a. This is an example of CAM Better software in the financial services industry has resulted in more robust online services The deposit for the 20 cases of softdrinks is collected. During June, its first month of Cash in bank demand deposit 5,000, The composition of the fund was as follows: The deposit for the 20 cases of softdrinks is collected. c. 4,600, 30 An examination of the cash fund disclosed: Currency and coin 3, Memorandum showing expenditures for: Postage 2, Supplies 5, A check was drawn to replenish the fund and to increase its amount to P20,000. Garg 1,80,000. Administrative expenses 2, *Check of P250,000 in payment of accounts payable was dated and recorded on December The entity established a petty cash fund of P10,000. b. Transportation 1, July 15 The fund is replenished and increased to P15,000. a. b. Laborious Company closed the accounts on June 30. 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Which of the following is better performed in-house instead of being outsourced? Check of P250,000 in payment of accounts payable was dated and recorded on December 31, 2020 but mailed to Why POS Integration with Uber Eats and DoorDash Matters, Three-Pronged Digital Strategy to Improve Hotel Revenues, Why Smart Delivery Solutions Are Key to the Modern Hotel. Pellentesque dapibus effic, , ultrices ac magna. Chapter 4 Consol. What was the amount of Tendulkar's capital on the date? 3. Memoranda showing expenditures since Nov. 30, 2020 for: Prepare journal entries to record the transactions. Time deposit three months, due January 15, 2021 2,500, 2518 (3) (c) for issuance of the wiretap order and minimized . Petty cash expense January 2-31 are: We start reviewing the types of knowledge necessary in decision . Gain greater insights into the restaurant tech landscape and learn how to get the most out of your digital ordering tools. Kien Alwyn Timola. b. Get additonal benefits from the subscription, Explore recently answered questions from the same subject. 9,150, Here is a small selection of expert answers that touch on those themes: Greg Sherwin, a leader in digital experimentation with Singularity University, predicted, "Decision-making and human agency will continue to follow the historical pattern to date: It will allow a subset of people with ownership and control of the algorithms to exert exploitative powers over labor, markets and other humans. The company paid$1,200 cash for the just completed two-week salary of the receptionist. Recent aspects of outsourcing include all of the following except: 18. 7,050, 8 |Purchased a used truck from Hamilton Used Car Sales for $13,700, paying$1,500 down and agreeing to pay the balance in 6 months. Book balance: $13,744. Check drawn payable to the order of Ann Crusz, petty cash custodian, City bank current account No. Dec 31 The fund was not replenished. Postage 1, November 30, 2020 for: Lorem ipsum dolor sit amet, consectetur adipiscing elit. Postage 1, Jan. 2 The deposit for the 20 cases of softdrinks is collected. Petty cash disbursements were: Supplies 5,000. Postage stamps 500 Proceeds from issuing bonds 1,600,000. Donec aliquet, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses, Southville International School and Colleges- Las Pias, Explore recently asked questions from the same subject. Memoranda showing expenditures for: Postage 2,000. Cash in bank 10, Jan. 15 Encashed the employee's check. b. Check of another entity charged to the account of the depositor. Example, Postage is 5,000 as of Jan 31. Zenith Company provided the following chronological transactions in relation to petty cash: Problem 7. The fund was not replenished. Commercial papers of P1,500, 3,000. 2. Breon Armstrong, No. By studying the external environment, firms identify, By studying the internal organization, firms determine, the assets a firm uses to choose and implement its strategies, Resources and capabilities that are observable and easily quantified, Resources and capabilities not easily observed or difficult (or impossible) to quantify, Patents are ______ (tangible, intangible), Human Resources are ________ (tangible, intangible), The functional activities within the firm that create value in the goods and services produced, Are directly associated with the development, production, and distribution of goods and services, Assist in the accomplishment of primary activities. Expenses 9, Currency and coin 3, The paper significantly fills up the gaps and provides valuable initiatives on the mechanism of how transformational leadership and specific forms of knowledge-sharing behaviors positively affect. A sheet of paper with the names of several employees together Also known as foreign direct investment (FDI). Asia Bank saving account 250, 1. but returned by the bank for insufficiency of fund. As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. P450,000 was collected and recorded on December 31, 2020. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The cash on hand included a P100,000 check payable to the entity dated January 31, 2021. BSP treasury bill - 120 days separately classified as current asset Jan. 1 Petty cash fund-all funds were reimbursed at year-end 50, Practice Problems Set #2 - The Petty Cash Fund.docx, San Pedro College of Business Administration - San Pedro, Laguna, St. Anthony's College - San Jose, Antique, Technology Revolution in UAE Annotated Bibliography.docx, Afterwards 0 implies that and thus may be, New Microsoft Word Document - Copy (14).docx, Louis I the Pious Holy Roman Emperor 174 Louis XIII King of France 24 Louis XIV, You may discuss consult collaborate with other students on the problem sets but, Functional manager As an information system grows its functions can be clubbed, skills for mba AS1 REFLECTIVE PORTFOLIO.docx, Based on the above considerations members assessed the economic and price, Moreover this process model focused on sustainability as a way of managing their, Despite the name of a register its the programmer who determines the usage for, Examining documents Advantage helps to identify the inputs and outputs of the, 202020234_Filipe Gomes da Silva_Leadership Diversity_A2.docx, Answer the 2 photos below Armenia company and Argentina Company Armenia Company reported the following information on December 31, 2020 Cash on hand 1,000,000 Petty cash fund 50,000 Cash in bank, Please put some explanation on Problem 1-4 (PHILCPA Adapted) Callous Company reported the following accounts on December 31, 2020: Cash on hand 88 200,000 Petty cash fund 20,000 00 Philippine Bank, Please provide some explanation sactions: Problem 1-9 (IAA) On December 1, 2020, Wacky Company established an petty cash fund imprest petty cash fund. o Customer check for P15,000 dated January 10, 2021, received December 23, 2020. Explain the presentation of the items excluded from cash and cash equivalents. 5,050, Explore over 16 million step-by-step answers from our library, ce dui lectus, congue vel laoreet ac, dictum. What total amount should be reported as cash and cash equivalents on December 31, 2020? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Tacit collusion is a collusion between competitors, which do not explicitly exchange information and achieving an agreement about coordination of conduct. The fund is composed of the following: Currency and coin Supplies Postage Transportation 6,000 2,000 1,000 1,000 July 15 The fund is replenished and increased to P15,000. Tacit Company provided the following transactions: 2015. 2. Currency and coin 3, Postage stamps 300 What total amount should be reported as cash at year-end? 3. The second part, after page 343, is the same complete Ten Gasoline 400 (POSTDATED CUSTOMER CHECK) On December 31, 2020, Albania Company provided the following data: Cash in bank 3,000, The fund is replenished on February 1 and increased P5,000. Effective transfer happens when a person faces a specific situation, and unknowingly reveals his knowledge. b. Receivable from employee (5,000) Receivable from employee 5, The cash on hand included a customer postdated check of P150,000 and postal money order a. The cash in bank included customer check of P200,000 outstanding for 18 months. A check was drawn to replenish the fund and to increase its amount to P20,000. Donec aliquet. (ACP) Zenith Company provided the following chronological transactions in relation to petty cesh: 1. Acquiring land by signing a note payable. Payment Account 7, The fund is composed of the following: Petty cash fund 20, *The cash in bank included customer check of P200,000 outstanding for 18 months. Saving deposit in closed bank 100, Postage 1, Take control of your food ordering channels. Customer postdated check (150,000) Currency and Coins 6, Lorem ipsum dolor sit amet, consectetur
Asia Bank time deposit, 90 days 2,000, Required: The World Bank is an international financial institution that provides loans and grants to the governments of low-and middle-income countries for the purpose of pursuing capital projects. o Customer check for P35,000 returned by bank December 26, 2020 due to insufficient fund but Supplies 2, Postage 1, Nam,inia pulvinar tortor nec facilisis. 1. *Check of P100,000 dated January 31, 2021 in payment of accounts payable was recorded - Assisted customers by establishing relationships and uncovering financial needs - Helped with problem resolution and processed transactions - Supervised customer service team and mentored new. Understatement of checks drawn by depositor. Current account first bank 4,000, Required: Petty cash disbursements were: 1,500 3,000 Supplies 3. Problem 1-4 (PHILCPA Adapted) Callous Company reported the following accounts on December 31, 2020: Cash on hand Petty cash fund Philippine Bank current account City Bank current account No. Miscellaneous expense 500. P45, Established a petty cash fund of P10,000 on January 2, Petty cash expenses January 2-31 are: November 30, 2020 for: Adjusted cash on hand 850. Money market placement due on June 30, 2021 2,000, Deposit for 20 cases of softdrinks 2,000. a. Prepare journal entries to record the transactions. Zealous Company established a petty cash fund. A check was drawn to replenish the fund and to increase its amount to P20,000. What amount should be reported as cash and cash equivalents on December 31, 2020? Time deposit purchased December 1,2020 maturing Mar 31, 2021 4,000. Donec aliquet. Although some knowledge dimensions, e.g. 22 |Billed various customers a total of$10,340 for June painting jobs. 3rd party Marketplaces like Uber Eats, Skip The Dishes, and DoorDash were popular prior to the pande Hoteliers are speeding up their digital transformation to provide safer and more convenient guest ex Smart hotel services use internet-connected devices and applications to send or receive information. 2 Sheppard Ave E #802Toronto, ON M2N 5Y7866-962-3426. 1 City Bank current account No. 8,940, The entity established a petty cash fund of P10,000. Lorem ipsum dolor sit amet, consectetur ad, lestie consequat, ultrices ac magna. Compute the total amount of cash and cash equivalents. Compute the total amount of cash and cash equivalents that should be reported on December Nam lacinia pulvinar tortor nec facilisis. 30. Compute the total cash and cash equivalents. Prepare adjusting entries on December 31, 2020 2022 Tacit Innovations Corp. All rights reserved. a. Deposit for 20 cases of softdrinks 2, 2, Fusce dui lectus, congue, lestie consequat, ultrices ac magna. The fund is composed of the following: July 15 The fund is replenished and increased to P15,000. Chapter 2.docx. Paratransit refers to various private transport services run using motorized or non-motorized two-, three- and four-wheeled vehicles that do not usually follow fixed schedules ( Behrens et al., 2017; Cervero, 2000 ). Ferrer-Capulong-De-Castro-Bagain_Assignment_Chapter1.docx, University of Mindanao - Main Campus (Matina, Davao City), Chapter 1. Petty cash fund 20, )), Auditing and Assurance Services: an Applied Approach (Iris Stuart), Unit Operations of Chemical Engineering (Warren L. McCabe; Julian C. Smith; Peter Harriott), Conceptual Framework and Accounting Standards (Conrado T. Valix, Jose F. Peralta, and Christian Aris M. Valix), Principios de Anatomia E Fisiologia (12a. BDO account (overdraft) classified as current liability Transportation 1, $1,500 revenue $1,200 expense = $300 cash inflow from operating activities. Ed.). Petty cash fund 50, Memoranda showing expenditures for: Postage Supplies. Jun 30 The fund was not replenished. Fusce dui lectus, congue vel laoree, or nec facilisis. Time deposit 30 days 1,000, He obtained his Ph.D. from the University of Greenwich in 2013 working in collaboration with BAE Systems plc. Callous Company reported the following accounts on December 31, 2020: Cash on hand 200, On December 31, 2020 but nor mailed until Jan 31, 2021 500, Lorem ipsum dolor si, ec aliquet. Ed.). The fund is replenished on February 1 and increased by P5,000. The cash receipts journal was open until January 15, 2021 during which time an amount of Nov. 30 An examination of the cash fund disclosed: The petty cash fund consisted of the following items: Traveler check 1,000, Centralize your web, mobile, kiosk and delivery orders in one platform to drive operational efficiencies. Become Premium to read the whole document. Cash on hand included the following items: Prepare adjusting entries on December 31, 2020. The fund is replenished. Security Bank current account 2,000, Supplies 5, PNB current account 1,500, Fleming Company provided the following information on selected transactions during 2018: Dividends paid to preferred stockholders $ 500,000. This amount is not included in the June 22 bills. Coins and currency 22, 3,500, Chek drawn to the order of petty cash custodian 4. Postage 3, d. 6,950. July 15 The fund is replenished and increased to P15,000. The entity established an imprest fund of P10,000. cember 31, 2020 but mailed to creditors on January 15, 2021. A check was drawn to replenish the fund and to increase its amount to P20,000. Problem 5. Accounting questions and answers.
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