b. Payment of expenses for wage of fund € Replenishment of Petty Cath fund id. End of the year -No replenishment of expenses ©. To increase the POF f. To decrease the PCF — PETTY CASH FUND Expenses ~ xxx Petty cash fund ~ xxxx "First doy, reverse the entry Petty Cash Fund ~ xxx Cosh in Bonk. - xxx Cost in Bonk — xxx Petty cosh fund. » xxx Petty Cosh Fund. - xxx Cashin Bonk. = xxx Expenses — xxx Petty Cash Fund ~ xxx Petty Cosh Fund — xxx Cash in Bonk xxx No Adjustment Petty Cash Fund — xxx ‘Cath in bank, -xxx (Cath in Bonk = xxx Petty cosh fund. - 00x i ~ e -— -_ PEFTY CASH FUND TRANSACTIONS (SAMPLE) Nov 10 The entity established on imprest fund BhP10,000 29 Replenish the fund. The PCF include the following: Currency and coins - P2,000; Supplies ~ P5,000; Telephone ~ P1,800; Postage ~ P1,200 Dec 31 The'fund wos not replenished. The PCF include the following: Currency and coins ~ P7,000; Supplies ~ P1,500; Postage — P500; Miscellaneous Expense — P 1,000. Feb 1 The fund is replenished and increased to P1 5,000. Nov 10 The entity established © petty cosh fund of P10,000. 11-28 Petty cash disbursement amounted to PB,000. 29 tsued © check for 710,000 to replenish the fund Dec 1-30 Petty Cath expenses amounted 10 9,000 31 amved © check for P15,000 to replenish the fund7. 7 ~ PETTY CASH FUND (EXERCISES) 9 ZEALOUS COMPANY ESTABLISHED A PETTY CASH FUND. 1 ESTABLISHED A PETTY CASH FUND OF P10,000 ON JANUARY 2. 2. PETTY CASH FUND EXPENSES ~ JANUARY 2-31 ARE: POSTAGE - P1500; SUPPLIES ~ P5,500; TRANSPORTATION ~ P1,200; IMISCELLANEOUS EXPENSE - P800 3. THE FUND IS REPLENSHED ON FEBRUARY | AND INCREASED BY 5,000.Ve v PETTY CASH FUND (EXERCISE 2) & - LABORIOUS COMPANY CLOSED THE ACCOUNTS ON JUNE 20. THE ENTITY PROVIDED THE FOLLOWING TRANSACTIONS: MAY 2.~ THE ENTITY ESTABLISHED AN IMPREST FUND OF P10,000. #AAY 29 — THE FUND REPLENISHED. THE PETTY CASH ITEMS INCLUDE: CASH AND COIN — P2,000; — ‘SUPPLIES.- P3,000; TRANSPORTATION — P2,500; MISCELLANEOUS EXPENSE ~ Pl, 30 — THE FUND WAS NOT REPLENISHED. THE FUND IS COMPOSED OF THE FOLLOWING. AND COIN ~ P6,000; SUPPLIES - P2,000; POSTAGE - P1,000; TRANSPORTATION ~ P1,000. '~ THE FUND IS REPLENISHED AND INCREASE TO P15,000. CURRENCY AND COIN — P3,000; . see 1,500; TRANSPORTATION — P1,500; MISCELLANEOUS EXPENSE —-~@ LONG PROBLEM (1) ca ONSDECEMBER 31, 2018. EARNEST COMPANY PROVIDED THE FOLLOWING DATA: CASH IN BANK - 1,500,000; TIME DEPOSIT - 30DAYS'—.P-500,000; MONEY MARKET PLACEMENT DUE ON JUNE 30 2019 = 1,000,000; SAVING DEPOSIT IN CLOSED BANK - 50,000; SINKING FUND FOR BOND PAYABLE DUE JUNE 30, 2019 - 400,000; PETTY CASH FUND ~ P 10,000. '» THE CASH IN BANK INCLUDED CUSTOMER CHECK OF P80,000 OUTSTANDING FOR 18 MONTHS. * CHECK OF P100,000 IN PAYMENT OF ACCOUNTS PAYABLE WAS DATED AND RECORDED ON DECEMBER 31, 2018 BUT MAILED TO CREDITORS ON JANUARY 15, 2019. + cxecx OF 750,000 DATED JANUAEY ‘31, 2018 IN PAYMENT OF ACCOUNTS PAYABLE WAS RECORDED AND MAILED. DECEMBER 31, 2018, * THE REPORTING PERIOD IS THE CALENDAR YEAR. ener AS 1? OURNG women Tt Toone m ice DRCEMER 34, 2018.7, Vv _J LONG PROBLEM (2) KANIKAZE COMPANY REPORTED THE FOLLOWING ACCOUNTS ON DECEMBER 31, 2018 CASH ON HAND - 500,000; PETTY CASH FUND - P20,000),SECURITY BANK CURRENT ACCOUNT - P1,000,000; PN8 CURRENT ACCOUNT #1 - P.400,000; PNB CURRENT ACCOUNT #2 — P(50,000); BSP TREASURY BILL - 120 DAYS - 3,000,000; BSP TIME DEPOSIT ~ 90 DAYS. . THE CASH ON HAND INCIUDED A CUSTOMER POSTDATED CHECK OF P100,000 AND PO’ P40,000. + THE PETY CASH FUND CLUDED UNREPLENSHED PETTY CASH VOUCHERS FOR P2,000 AND AN EMPLOYEE CHECK FOR P3,000 DATED JANUARY 31, 2019. + THE BPt TIME DEPOSIT IS SET ASIDE FOR ACQUISITION OF LAND TO BE MADE IN EARLY JANUARY 2019. ISTAL MONEY ORDER OF