Professional Documents
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COLLEGE DEPARTMENT
PRELIMINARY EXAMINATION - INTERMEDIATE ACCOUNTING 2
DIRECTION: SOLVE EACH NUMBER AND CHOOSE YOUR ANSWER FROM THOSE GIVEN
IN THE BOX.
II. Various expenses from the company’s imprest petty cash fund
dated December 2016, totaled P16 250, while those dated January
2017, amounted to P5 903. Another disbursement from the fund
dated December 2016 was a cash advance to an employee amounting
to P3 500. A replenishment of the petty cash fund was made on
January 8, 2017.
CASH BOOKS
RECEIPTS PAYMENT
BANK STATEMENT
Additional information:
a. DMs 61 and 112 are for service charges.
b. EC is error corrected.
c. DM 57 is for an NSF Check.
d. CM 20 is for loan proceeds, net of P150 interest charges for
90 days.
e. CM 16 is for the correction of an erroneous November bank
charge.
f. CM 36 is for customer’s notes collected by bank in December.
g. Bank balance on December 31 is P592 270.
1. The total outstanding checks at November 30 should be
2. The total outstanding checks at December 31 should be
3. The deposit in transit at November 30 should be
4. The deposit in transit at December 31 should be
5. The adjusted book balance at November 30 should be
6. The adjusted bank receipts for the month of December should be
7. The adjusted book disbursements for the month of Dec. should
be
8. The adjusted bank balance at December 31 should be
767 800 477 270 9 550 124 950
Petty Cash
10 250 38 000 432 710 0 Custodian
To monitor variations in
5 442 960 153 000 different types of
expenditures, the petty
cash custodian files cash
8 500 415 480 vouchers by category of
Facilitate payment of small, expenditure after
miscellaneous items replenishing the fund.
Cash 6 800