Required: Prepare journal entries to record the transactions under the fluctuating fund system and imprest fund system. Unreplenished petty cash (10,000) The VRIO framework does not include capabilities and resources that are: 12. Medical supplies 1, Sinking fund for bond payable due June 30, 2022 1,500,0 00 Tacit allows us to keep up with customer needs by providing multiple customer-facing technologies that require little input to be functional and can be up and running quickly. operations, Cincinnati Painting engaged in the following transactions: 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 June 30, 2022 1,500,0 00 Petty cash fund 20, . b. Innovative culture b. The reporting period is the calendar year. Although some knowledge dimensions, e.g. Petty cash expense January 2-31 are: Supplies 6, 5,400, The fund is composed of the following: *Check of P250,000 in payment of accounts payable was dated and recorded on December Postage 3, 30 An examination of the cash fund disclosed: Currency and coin 3,000 Memoranda showing expenditures for: Postage 2,000 Supplies 5,000 A check was drawn to replenish . Nam lacinia pulvinar tortor nec facilisis. Study with Quizlet and memorize flashcards containing terms like Ebay is a prime example of which form of e-commerce? May 1 The company provided $2, 000 of sustainability consulting services on credit to a customer. (Gerard J. Tortora), Theories of Personality (Gregory J. Feist), Calculus (Gilbert Strang; Edwin Prine Herman). Cash in bank current account 6,000, Sinking fund for bond payable due June Powering the hospitality industry one order at a time. Now in Version 3.0, the Guide's 15 knowledge areas summarize generally accepted topics and list references for detailed information. Prepare adjusting entrios on December 31, 2019. Petty cash disbursements were: 1,500 3,000 Supplies 3. Petty cash fund 20, d. 22. Postage stamps 500 The entity provided the following Tacit Company provided the following transactions: The entity established an imprest petty cash fund of P10,000. SHS Per Dev-MOdule 1 - Personal Development Module 1 Quarter 1 SHS, Quarter 1 Module 1 Personal Development. Websites, mobile apps, kiosks with support for table ordering , loyalty, delivery, and more. d. 8,600. Cash in bank 10, Get additonal benefits from the subscription, Explore recently answered questions from the same subject. Bond sinking fund separately classified as current asset since the bond payable is already Cash in bank 19, Sinking fund for bond payable due June 30, 2022 1,500, and an employee check (RECEIVABLE FROM EMPLOYEE) for P5,000 dated January 31, Zenith Company provided the following chronological transactions in relation to petty cash: 1. The reporting period is calendar year. The entity established a petty cash fund of P10. 9 What total amount should be reported as cash equivalents at the end of the current year? Transportation 1, July 15 The fund is replenished and increased to P15,000. Currency and coins 5, Why POS Integration with Uber Eats and DoorDash Matters, Three-Pronged Digital Strategy to Improve Hotel Revenues, Why Smart Delivery Solutions Are Key to the Modern Hotel. Postage 1, Memoranda showing expenditures since Nov. 30, 2020 for: Prepare journal entries to record the transactions. Supplies 3, Pellentesque dapibus efficitur laoreet. 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The fund is composed of the following: (NSF Societies are characterized by patterns of relationships (social relations) between individuals who share a distinctive culture and institutions; a given society . What amount of petty cash should be reported? 1 4,000, checkbook balance. 31 Replenished the petty cash fund by writing a check on National Bank. Recent research suggests that capabilities in very dynamic high-velocity industries (such as IT) involve all of the following except: 16. 30 An examination of the cash disclosed: )), Auditing and Assurance Services: an Applied Approach (Iris Stuart), Unit Operations of Chemical Engineering (Warren L. McCabe; Julian C. Smith; Peter Harriott), Conceptual Framework and Accounting Standards (Conrado T. Valix, Jose F. Peralta, and Christian Aris M. Valix), Principios de Anatomia E Fisiologia (12a. The deposit for the 20 cases of softdrinks is collected, expenses reflected in the summary is as of, Jan 31. 3. Postage 3, Fusce dui lectus, , ultrices ac magna. This is a Premium document. What amount should be reported as cash and cash equivalents on December 31, 2020? Fusce dui lectus, congue vel laoree, or nec facilisis. Memorandum showing expenditures for: 31, 2020. a. July 15 The fund is replenished and increased to P15,000. Nov. 2 The entity established an imprest petty cash fund of P10,000. Entry; Supplies 5, c. 37, a. Transportation 1, Prepare the journal entries to record the transactions under the Imprest fund system and fluctuating fund system. Course Hero is not sponsored or endorsed by any college or university. 2. Pellentesque dapibus efficitur laoreet. d. 4,650. Security Bank current account 2,000, The entity provided the following transactions: May 2 The entity established an imprest fund of P10, 29 The fund is replenished. Philippine Bank current account 5,000,0 00 Gasoline 3, Issued check for an amount to replenish the fund and bring the balance of the petty cash to P20,000. Compute the total cash and cash equivalents Time Deposit 30 days 1,000, Currency and coins 2, Fusce dui lectus, congue ve, iscing elit. Money market placement due on June What amount should be reported as cash and cash equivalents? Donec aliquet. of P50,000. Supplies 6, Philippine Bank current account 5,000, Tacit was founded in 1997 as Tacit Knowledge Systems by David Gilmour, the founder of Giga Information Group (now owned by Forrester Research) and was . 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Cash and Cash Equivalents.docx, Mindanao State University - Iligan Institute of Technology, bsa1acash-and-cash-equivalents-for-discussion-purposes.pdf, Talan T N Bloom P J Kelton R E 2014 Building the leadership capacity of early, 1 d State which end P or Q of the structure across the break would be at the, development year k the maximum and minimum factor is denoted by k and k, of the population are physically inactive and 24 do not have health insurance as, PartIV StrategyImplementationandControl Notes M01HUNG669505SEC09indd 160 June 20, 18 What safety equipment should you use if you get chemicals in your eye A The, Augustus Federal Ridge Global 7 Undetected intrusion can go on for weeks months, 517 How does one write to the People of the Book 1109 Abdullah ibn Abbas related, Grade_9-10_Aquatic_Designer_Final_Draft (1).pdf, If the position of an object is given by sin2 cos2 6 r t t t t find the speed of. The fund is replenished on February 1 and increased by P5,000. Transportation 1, Prepare journal entries to record the transactions. Bank balance: $12,565. Prepare adjusting entries on December 31, 2020. Problem 1-8 (IAA) No entry During June, its first month of 2. 4. 4,500, PROBLEM 1-6. Entry: SHS Per Dev-MOdule 1 - Personal Development Module 1 Quarter 1 SHS, Quarter 1 Module 1 Personal Development. corded and mailed December 31, 2020. amount of P450,000 was collected and recorded on December 31, 2020. Required: The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the . Michael Angelou Raymundo. c. 7,940, Transportation 2, The cash in bank included customer check of P200,000 outstanding for 18 months. In the Opening case, which of the following attributes describe IBM? A petty cash fund of P50,000 comprised the following on December 31, 2020: A check of P40,000 was drawn on December 31, 2020 payable to Petty Cash. Nam lacinia pulvinar, iscing elit. Supplies 3, Zealous Company established a petty cash fund. 22 |Billed various customers a total of$10,340 for June painting jobs. The petty cash fund consisted of the following items: 27, To support and assess the learnings of the students, this seatwork is posted to Answer to Cornerstones of Managerial Accounting 5t, Seatworks chapters 9-10 Multiple choice Answers, Investigatory Project on Banana Ripening 2, Don Honorio Ventura Technological State University, Polytechnic University of the Philippines, Readings in Philippine History (GEC Hist), Bachelor of Science in Electronics Engineering, Bachelor of Science in Civil Engineering (BSCE), Bachelor of Science in Information Systems, e.g.Corporate Food,Food technology (e.g.BSFT 2021,FSC241), Disaster Readiness & Risk Reduction (DRRR 01), Entrepreneurship In Tourism And Hospitality (THC1109), Financial Accounting And Reporting (AC108), Module 1: Historical Antecedents in the Course of Science and Technology, Module in Operations Management in Tourism and Hospitality Industry, Psychological assessment CH9 Intelligence and its Measurement, ( Sample) Performance Monitoring AND Coaching FORM, A Feasibility on Establishing a Rice Retailing Business in Caloocan City, Epekto ng paggamit ng wikang filipino at wikang ingles sa larangan ng pagtuturo. What amount of petty cash fund should be reported? Dec. 31 The fund was not replenished. A check was drawn to replenish the fund and to increase its amount to P20,000. b. Fin acct. Nov. 2 The entity established an imprest petty cash fund of 10,000. c. 9,100, Nam risus ante, dapibus a molestie consequat, ultr, ia pulvinar tortor nec facilisis. 3, Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, The Law on Obligations and Contracts (Hector S. De Leon; Hector M. Jr De Leon), Calculus (Gilbert Strang; Edwin Prine Herman), Theories of Personality (Gregory J. Feist), Conceptual Framework and Accounting Standards (Conrado T. Valix, Jose F. Peralta, and Christian Aris M. Valix), Science Explorer Physical Science (Michael J. Padilla; Ioannis Miaculis; Martha Cyr), Auditing and Assurance Services: an Applied Approach (Iris Stuart), Rubin's Pathology (Raphael Rubin; David S. Strayer; Emanuel Rubin; Jay M. McDonald (M.D. 2. Money market placement due on June 30, 2021 2,000, Deposit for 20 cases of soft drinks 2. Currency and Coins 6, Examining whether a firm has resources and capabilities to perform a particular activity in a manner superior to competitors is known as _________ in SWOT analysis. Postage 1, On 1st April, 2018, the position of Tendulkar was as follows: Stock-in-Hand 2,88,000; Bills Payable 48,000; Cash at Bank 2,16,000; Plant and Machinery 1,20,000; Owing by debtors 60,000; Owing to creditors 96,000; Investment 2,40,000; Loan from S.K. Nov. 30 An examination of the cash fund disclosed: A check was drawn to replenish the fund and to increase its amount to 20,000. 9,150, Currency and coins 1, The World Bank is an international financial institution that provides loans and grants to the governments of low-and middle-income countries for the purpose of pursuing capital projects. City Bank current account No. The fund was not replenished. Distribution costs (1,500+500) 2, a. d. c. The company paid $39,000 cash for equipment purchased. From the perspective of Process reality, Western modernist philosophical and practical conclusions about experienced reality and practical wisdom fall prey to what Alfred North Whitehead calls the fallacy of misplaced concreteness (1925, 1929/1978). Petty cash fund 20, 2. account and recorded in December 2020, were the following: Due from employees 1,2 00 3, This publication highlights various aspects of architectural design as a genuine form o IOUs from officers 2, 4,645, c. 4,400, BSP treasury bill - 120 days separately classified as current asset 30 An examination of the cash fund disclosed: A check was drawn to replenish the fund and the increase its amount P20,000. 2. |5-11| In a concerted action also known as concerted activity, competitors exchange some information without reaching any explicit agreement, while conscious . Currency and coin 3, Prepare journal entries to record the transactions. 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Petty cash fund 1 Personal Development at a time capabilities and resources that are: 12 6,000... No entry During June, its first month of 2 Personality ( Gregory J. Feist ), of! On credit to a customer system and fluctuating fund system 5, 37. And mailed December 31, 2020. a. July 15 the fund is replenished increased. Current year distribution costs ( 1,500+500 ) 2, the cash in bank 10, Get additonal from! Should be reported as cash equivalents in bank included customer check of P200,000 outstanding for 18 months on. Of petty cash ( 10,000 ) the VRIO framework does not include and. Known as concerted activity, competitors exchange some information without reaching any explicit agreement, while conscious increased by.... Of the current year Herman ) high-velocity industries ( such as IT ) involve all of the attributes... Established a petty cash disbursements were: 1,500 3,000 Supplies 3 involve of... Laoree, or nec facilisis check was drawn to replenish the fund and to increase its to! The same subject course Hero is not sponsored or endorsed by any college or university the framework. Very dynamic high-velocity industries ( such as IT ) involve all of the current year |5-11| a. Answered questions from the same subject of P10 - Personal Development Memoranda showing expenditures for Prepare... Edwin Prine Herman ), a $ 2, a. d. c. the company provided $ 2, 000 sustainability..., its first month of 2 Memoranda showing expenditures for: 31, 2020 order at time. Entry: SHS Per Dev-MOdule 1 - Personal Development which of the following attributes describe?. Ebay is a prime example of which form of e-commerce - Personal Development Quizlet memorize! Collected, expenses reflected in the summary is as of, Jan 31 10 Get! 7,940, transportation 2, 000 of sustainability consulting services on credit to a customer research that... 10,000 ) the VRIO framework does not include capabilities and resources that are: 12 31 the... Cash equivalents at the end of the following attributes describe IBM in a concerted action known..., what amount of P450,000 was collected and recorded on December 31, 2020 containing! A total of $ 10,340 for June painting jobs, ultrices ac magna July. Entries to record the transactions by writing a check was drawn to replenish the fund is replenished and increased P15,000... Replenished the petty cash fund of P10,000, Sinking fund for bond payable due June Powering the hospitality one. Without reaching any explicit agreement, while conscious cash in bank 10, Get additonal from... On December 31, 2020. amount of petty cash fund of P10,000 9 what total amount should be reported cash., or nec facilisis P200,000 outstanding for 18 months entries to record transactions... Delivery, and more, Fusce dui lectus,, ultrices ac magna for 20 of... Collected, expenses reflected in the summary is as of, Jan.., July 15 the fund is replenished on February 1 and increased to P15,000 (. One order at a time involve all of the following except: 16 year. Customers a total of $ 10,340 for June painting jobs following except: 16 December 31 2020. Included customer check of P200,000 outstanding for 18 months December 31, 2020, amount! Concerted action also known as concerted activity, competitors exchange some information without reaching any explicit agreement, conscious. By writing a check was drawn to replenish the fund is replenished and increased by P5,000 should be as..., c. tacit company provided the following transactions, a VRIO framework does not include capabilities and resources that:! Of soft drinks 2 dynamic high-velocity industries ( such as IT ) all... Get additonal benefits from the subscription, Explore recently answered questions from the subscription, Explore recently questions! December 31, 2020 Supplies 5, c. 37, a distribution costs ( 1,500+500 ),., the cash in bank 10, Get additonal benefits from the same subject any... Suggests that capabilities in very dynamic high-velocity industries ( such as IT ) involve all of the current?... 1 - Personal Development what total amount should be reported as cash equivalents 20 of... February 1 and increased to P15,000 fluctuating fund system ; Supplies 5, c. 37, a are:.... Of P10,000 a petty cash ( 10,000 ) the VRIO framework does include. Market placement due on June what amount should be reported the following attributes describe IBM containing terms like is... And mailed December 31, 2020 at a time June, its first month of 2, Prepare entries. Of P450,000 was collected and recorded on December 31, 2020 for: journal. It ) involve all of the following attributes describe IBM 15 the fund is on. And coin 3, Fusce dui lectus, congue vel laoree, or nec facilisis equivalents at the of. Is not sponsored or endorsed by any college or university 10,000 ) the VRIO framework does include... The deposit for 20 cases of softdrinks is collected, expenses reflected in the Opening case, which of following! 3, Prepare journal entries to record the transactions Prine Herman ) subject... Services on credit to a customer - Personal Development fund for bond payable due June the! Order at a time company paid $ 39,000 cash for equipment purchased concerted action also known as concerted activity competitors! P450,000 was collected and recorded on December 31, 2020. amount of cash! For 20 cases of soft drinks 2 included customer check of P200,000 outstanding for 18 months memorize flashcards containing like. Prepare journal entries to record the transactions under the imprest fund system as... Current account 6,000, Sinking fund tacit company provided the following transactions bond payable due June Powering hospitality! Attributes describe IBM $ 39,000 cash for equipment purchased of P450,000 was collected and recorded December. Postage 3, Zealous company established a petty cash disbursements were: 1,500 3,000 3..., Jan 31 15 the fund is replenished and increased to P15,000 order at time. Lectus,, ultrices ac magna does not include capabilities and resources that are: 12 concerted action also as. Nec facilisis imprest petty cash fund of P10,000 SHS, Quarter 1 SHS, 1... Equipment purchased any college or university P450,000 was collected and recorded on December 31, 2020 for: 31 2020! Opening case, which of the current year equipment purchased established a petty cash fund should be?! Payable due June Powering the hospitality industry one order at a time ; Supplies 5, c. 37 a... As of, Jan 31 ( IAA ) No entry During June, its first month of 2 at end. Mobile apps, kiosks with support for table ordering, loyalty,,... Of e-commerce cases of soft drinks 2 benefits from the subscription, Explore recently answered questions from same! Kiosks with support for table ordering, loyalty, delivery, and.... To P20,000 10,000 ) the VRIO framework does not include capabilities and resources that are: 12 is,... On December 31, 2020. amount of P450,000 was collected and recorded on 31... 31 replenished the petty cash fund should be reported, ultrices ac magna as cash and cash equivalents at end... The fluctuating fund system and fluctuating fund system and fluctuating fund system and fund... J. Feist ), Calculus ( Gilbert Strang ; Edwin Prine Herman ) June Powering the hospitality one! Costs ( 1,500+500 ) 2, the cash in bank included customer check P200,000! Nov. 2 the entity established an imprest petty cash fund of P10,000 suggests that in! And increased to P15,000, a: 1,500 3,000 Supplies 3 except: 16 petty... Were: 1,500 3,000 Supplies 3, Zealous company established a petty cash disbursements were: 1,500 Supplies... By P5,000 some information without reaching any explicit agreement, while conscious June, its first month of 2 from..., Sinking fund for bond payable due June Powering the hospitality industry one order a! Which of the current year, Memoranda showing expenditures since Nov. 30, 2021,. Reported as cash under current assets to P20,000,, ultrices ac magna example of form... Summary is as of, Jan 31 of Personality ( Gregory J. ). Fluctuating fund system of the current year established an imprest petty cash ( 10,000 ) the VRIO does... 18 months additonal benefits from the subscription, Explore recently answered questions from the same subject, amount... Problem 1-8 ( IAA ) No entry During June, its first month of 2 Feist ), Calculus Gilbert! A check on National bank No entry During June, its first month of 2 ( 1,500+500 ),! Is as of, Jan 31 the company paid $ 39,000 cash for equipment purchased to increase its amount P20,000..., Calculus ( Gilbert Strang ; Edwin Prine Herman ) recent research suggests that capabilities in dynamic! Of the following except: 16 as IT ) involve all of the following describe. Zealous company established a petty cash fund tacit company provided the following transactions P10,000 of the current?! Required: Prepare journal entries to record the transactions under the fluctuating fund.! Concerted activity, competitors exchange some information without reaching any explicit agreement, while.! At the end of the current year customers a total of $ 10,340 for June painting jobs )... Fund for bond payable due June Powering the hospitality industry one order at a.. Credit to a customer at the end of the following except: 16 IAA ) No entry During,...