1.

The following are available for ABC Company's petty cash fund on December 31,
2020:
Balance per book of the petty cash fund......................................20,000
Bills and coins..................................................................................... 9,000
Expense vouchers...............................................................................5,000
IOUs.......................................................................................................3,000
Employee check, NSF.........................................................................2,000
An envelope for a part containing...................................................6,000
The company uses the Imprest Fund System. What is the correct balance of petty cash
fund to be reported by the company? P 9,000

2. The following are available for ABC Company's petty cash fund on December 31,
2020:
Balance per book of the petty cash fund......................................20,000
Bills and coins..................................................................................... 9,000
Expense vouchers...............................................................................5,000
IOUs.......................................................................................................3,000
Employee check, NSF.........................................................................2,000
An envelope for a part containing...................................................6,000
The company uses the Imprest Fund System. What amount of shortage or overage shall
be recorded? P 1,000 shortage

3. The following information were taken from ABC Company on December 31, 2020:
Bond sinking fund-cash 20,000
Receivables from employees 7,000
Deposit in a closed bank 16,000
Deposit in transit 12,345
Currency and coins counted 9,500
Petty cash fund (of which P450 is in the form of paid vouchers 1,000
Bank service charges not yet taken up in the books 58
Book error in recording a check, the correct amount as paid by the bank
 is P890 as recorded in the books at P980, or a difference of 90
The unadjusted balance per books is P 67,760 while the unadjusted balance in checking
account is P63,323 of which P7,876 were outstanding checks. What is the correct cash
in the bank balance for ABC Company on December 31, 2020? P67,792.00

4. The bank reconciliation of ABC Co. included the following information:

(1) Checks and debit memos recorded by bank in December, including a December
service charge of P1,000 – P24,320;
(2) November bank service charge recorded on the books in December – P2,000;
(3) Cash disbursements per books during December – P34,658;
(4) Customer’s NSF Check returned by bank in December (no entry on company books) –
P16,000;
(5) Customer’s NSF check returned by bank in November and redeposited in December
(no entry on company books either in November or December) – P7,600;
(6) Deposit in transit, December 31 – P5,421;
(7) Outstanding checks, December 31 –P37,450.
How much is the Outstanding checks as of November 30? P12,112