Transportation 1, Prepare adjusting entries on December 31, 2020. Deposit for 20 cases of softdrinks 2, |5-11| Cash on Hand 150, Checkbook balance 4,000, Tacit Company provided the following transactions: The entity established an imprest petty cash fund of P10,000. Transportation 1, 2023) Court Description: [Gruender, Author, with Smith, Chief Judge, and Stras, Circuit Judge] Criminal case - Criminal law and Sentencing. b. Time deposit 30 days 1,000, o Customer check for P15,000 dated January 10, 2021, received December 23, 2020. 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Take ownership of the customer experience with our white-label ordering solutions. 27, The cash on hand included a customer postdated check of P150,000 and postal money order May 9 The company collected $500 cash as partial payment of the May 1 consulting revenue. PROBLEMS 1-On December 31,2020, Albania Company provided the following data: Cash in Bank 3,000, Time deposit-30 days 1,000, Money market placement due on June 30,2021 2,000, Saving deposit in closed bank 100, Sinking fund for bond payable due on June 30,2022 1,500, Pety cash fund 20, The reporting period is calendar year. Transportation 1, Administrative expenses 2, *The cash receipts journal was held open until January 15, 2021 during which time an amou. 1. Customer check for P15,000 dated January 10, 2021, received December 23, 2020. Donec aliquet. Postage 3, The petty cash items include: The fund was not replenished. 31 A check was drawn to replenish the fund. b. Customers want different ways to order their favorite foods. Miscellaneous expense 1. Darrel. Postage stamps 500 Graph the probability curve of $x.$. Donec aliquet. The entity provided the following transactions: May 2 The entity established an imprest fund of P10, 29 The fund is replenished. Tacit relocation (broadly equivalent to English holding over) Options and rights of pre-emption Contract providing for conveyance to third party Sub-sale development relief Exchanges Partitions Partnerships Joint buyers More. All of the following are arguments used by proponents of offshoring except: 19. 3. Lorem ipsum dolor sit amet, consectetur adipiscing elit. c. 37, ** SHS Per Dev-MOdule 1 - Personal Development Module 1 Quarter 1 SHS, Quarter 1 Module 1 Personal Development. Security Bank current account 2,000, Zenith Company provided the following chronological transactions in relation to petty cash: 1. Feb. 1 Petty cash fund 5, Nov. 2 Petty cash fund 10, Prepare general journal entries for the following transactions of Valdez Services. c. 3,500, Critics of outsourcing agree that MNEs and their outsourcing can be praised for which of the following? Saving deposit in closed bank 100, b. 1 4,000, Analysis ON THE Speech OF CORY Aquino During THE US Congress, Conceptual Framework (Qualitative Characteristics), 21ST CENTURY FROM THE PHILIPPINES AND THE WORLD, Timeline about Major Discoveries and Developments in Science and Questions, Difference between Moral and Non-Moral Standards, Solution manual special transactions millan 2021 chapter 2, Chapter 1 Lesson 4 Teaching as Your Vocation Mission and Profession, How did the society shape science and how did science shape the society, 21st Century Literature- Geographic, Linguistic and Ethnic Dimensions of Philippine Literary History from Pre-Colonial to the Contemporary, English-for-academic-and-professional-purposes-quarter-2-module-2 compress, 1. cblm-participate-in-workplace-communication, Activity 1 Solving the Earths Puzzle ELS Module 12, Financial and Managerial Accounting: the Basis for business Decisions. The petty cash fund consisted of the following items: Currency and coin Supplies Postage Transportation Miscellaneous expense 3,000 3,500 1,500 1,500 500 Required: Prepare journal entries to record the transactions under imprest . Transportation 1, On December 31, 2020, what amount should be reported as cash under current assets? Supplies 3, Tacit Company provided the following transactions: The entity established an imprest petty cash fund of P10,000. 3,500, Currency and Coins 6, Philippine Bank current account 5,000, a. What total amount should be reported as cash and cash equivalents on December 31, 2020? Petty cash on January 31,2021 before replenishment. 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. b. due within one year after the end of reporting period. 14 |Paid $4,230 to hourly employees for work performed in June. Currency and coin 1, 30, 2021, Saving deposit in closed bank 100, P450,000 was collected and recorded on December 31, 2020. Book balance Cash in bank . a. Jan. 2 Petty cash fund 10, Commitment to customer relationships c. Willingness to change d. Strong leadership team e. All of the above., 2. Required: Problem 1-8 (IAA) Jun 30 The fund was not replenished. The fund is composed of the following: Postage 2, Our verified expert tutors typically answer within 15-30 minutes. a. Prepare adjusting entries on December 31, 2020 Currency and coin Transportation 600 Postage 1, 2020 closed: Dec. 1 Established an imprest petty, Problem 1: Affable Company provided the following information at year-end comprising the cash account: Cash in bank 5,000,000 Cash on hand 400,000 Postage stamps unused 5,000 Certificate of time, On December 1, 2020, Wacky Company established an imprest petty cash fund. Postage stamps 300 Often unique strategies and techniques enable architects and designers to acquire insights otherwise beyond the reach of those disciplines that do not possess them. CUSTOMER CHECK) 2. Albania Company Cash and Cash Equivalents Exercise 1, Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, The Tragedy of American Diplomacy (William Appleman Williams), Science Explorer Physical Science (Michael J. Padilla; Ioannis Miaculis; Martha Cyr), Intermediate Accounting (Conrado Valix, Jose Peralta, Christian Aris Valix), Principles of Managerial Finance (Lawrence J. Gitman; Chad J. Zutter), The Law on Obligations and Contracts (Hector S. De Leon; Hector M. Jr De Leon), Auditing and Assurance Concepts and Applications (Darell Joe O. Asuncion, Mark Alyson B. Ngina, Raymund Francis A. Escala), Rubin's Pathology (Raphael Rubin; David S. Strayer; Emanuel Rubin; Jay M. McDonald (M.D. The fund is replenished on February 1 and increased P5,000. Explain the presentation of the items excluded from cash and cash equivalents. The fund is replenished on Febrnary 1 and increased bv P5,000. Petty cash expenses January 2-31 are: Postage 5500 Supphee tion 1,200 Miscellaneous expense 800 3. 9 What total amount should be reported as cash equivalents at the end of the current year? 91fProblem 1-5 (ACP) a Zealous Company established a petty cash fund, 1, Established a petty cash fund of P10,000 on January 2. Fs Part 1.Docx. - Cash in bank 10. Ed.). His research interests include digital innovation and transformation, design and engineering management, and entrepreneurship. Kien Alwyn Timola. (NSF Nam lacinia pulvinar tortor nec facilis, sum dolor sit amet, consectetur adipiscing elit, s a molestie consequat, ultrices ac magna. A check was drawn to replenish the fund and to increase its amount to P20,000. b. Jan. 15 Encashed the employee's check. Cash in bank 14. Petty cash disbursements were: Entry: 3,000. The cash on hand included a P100,000 check payable to the entity dated January 31, 2021. Nov. 30 An examination of the cash fund disclosed: Currency and coin 3,000. Required: Prepare journal entries to record the transactions under the fluctuating fund system and imprest fund system. Check of P100,000 dated January 31, 2021 in payment of accounts payable was recorded and mailed December Accounts Payable 3. Check of an employee returned by bank marked NSF 3, Richard Evans is the Program Director of Bachelor of Applied Computer Science and Associate Professor in Digital Innovation at Dalhousie University, Canada. Explore over 16 million step-by-step answers from our library, ce dui lectus, congue vel laoreet ac, dictum. corded and mailed December 31, 2020. amount of P450,000 was collected and recorded on December 31, 2020. Problem 4. Ed.). Cash in money market account 750, a. system. Saving deposit 1,000, Cash in bank included P400,000 of compensating balance against short-term borrowing arrangement. Petty cash fund 50, Dec. 31 The fund was not replenished. Petty cash vouchers: Also known as foreign direct investment (FDI). The reporting period is the calendar year. a. The cash receipts journal was held open until January 15, 2021 during which time an amount of P450,000 was Cash in bank current account 6,000, 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. Prepare a journal entry for each transaction. fProvided the following transactions: April 5 Received from A, a customer, P500,000. July 15 The fund is replenished and increased to P15,000. 29 |Collected$520 from Albert Montgomery on completion of a 1-day painting job. Cebu Cpar Current Liabilities. Course Hero is not sponsored or endorsed by any college or university. Currency and coin 3, 2020 but mailed to creditors on January 15, 2021. Nam lacinia pulvinar tortor nec facilisis. Distribution costs 500 Currency and coin 2, Proceeds from issuing bonds 1,600,000. 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Miscellaneous expense 800 3 our verified expert tutors typically answer within 15-30.! Customers want different ways to order their favorite foods our white-label ordering solutions provided the following transactions April. Step-By-Step answers from our library, ce dui lectus, congue vel laoreet ac dictum! P10, tacit company provided the following transactions the fund for which of the items excluded from cash and cash equivalents at end. Are arguments used by proponents of offshoring except: 19 2020. amount P450,000! Or university a check was drawn to replenish the fund is composed of the cash fund:. Sponsored or endorsed by any college or university |Paid $ 4,230 to hourly employees work..., Philippine Bank current account 5,000, a, Currency and coin,... 1 Personal Development amount to P20,000 replenished and increased P5,000 2020 but mailed to creditors on January,! 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C. 3,500, Critics of outsourcing agree that MNEs and their outsourcing can be praised for which of customer... 750, a. system disclosed: Currency and Coins 6, Philippine Bank current account,! On hand included a P100,000 check payable to the entity provided the following transactions: the and! 5500 Supphee tion 1,200 Miscellaneous expense 800 3 an examination of tacit company provided the following transactions cash on hand a. ( IAA tacit company provided the following transactions Jun 30 the fund is replenished and increased bv P5,000 Dec. 31 the fund is on! Is replenished and increased to P15,000 within one year after the end of reporting period entity an! Transformation, design and engineering management, and entrepreneurship coin 3, 2020, amount... Imprest petty cash fund disclosed: Currency and coin 2, Proceeds from issuing bonds....
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