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CCE - Interacct
CCE - Interacct
On December 31, 2018, what total amount should be reported as cash and
cash equivalents?
9. Ironman company reported the checkbook balance on December
31, 2018 at 5,000,000 and the following items on same date:
Currencies 20,000
Coins 2,000
Petty Cash Vouchers:
Gasoline Payments for delivery equipment 3,000
Medical supplies for employees 1,000
Repairs of office equipment 1,500
Loans to employees 3,500
A check drawn by the entity payable to the order of 15,000
Natasha, petty cash custodian, representing her
salary
An employee check returned by the bank for 3,000
insufficiency of fund
A sheet of paper with names of several employees 5,000
together with contribution for a birthday gift of a co-
employee. Attached to the sheet of paper is a
currency of
What amount of petty cash fund should be reported in the
statement of financial position?
The next three items are based on the following:
The petty cash custodian of Miles Morales Inc. presented the
following on July 31, 2018, the end of the company’s natural
business year:
Currency 1,650
Petty Cash Vouchers:
Postage 420
Office Supplies Expense 900
Transportation expense 340
Computer repairs 800
Advance to office staff 1,500
A check drawn by Miles Inc. payable to the petty 7,200
cash custodian
Postage stamps 300
An employee’s check, returned by bank, marked as 1,000
NSF
An envelope containing currency of 1,890 for a gift 1,890
for a retiring employee
16,000
The general ledger shows an imprest petty cash fund balance of
16,000.