Assignment - Petty cash and Bank recon

Assignment - Petty cash and Bank recon - Assignment(Petty...

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Assignment (Petty Cash & Bank Reconciliation) 1. The petty cash fund of Fushia Company has an imprest balance of P5,000. On December 31, 2013, the petty cashier provided the following data related to the petty cash fund: Postage stamps P245 Meals 570 Transportation 315 Miscellaneous 160 Coins and currencies 3,600 How much is the cash short (over)? ___________________ 2. In preparing its bank reconciliation at December 31, 2013, Gold Company has made available the following data: Balance per book 3,500,000 Bank service charge 10,000 Outstanding Checks 950,000 Deposit in transit 1,300,000 Customer note collected by bank 1,400,000 Interest on customer note 50,000 Customer check returned NSF 350,000 Depositor’s note charged to account 1,000,000 What is the adjusted balance per book? ______________ 3. As of June 30, 2013, the bank statement of Quest Trading Co. has an ending balance of P373,612. The following data were assembled in the course of reconciling the bank balance: The bank has erroneously credited the account of Quest Trading Co. for P2,150 on June 22.
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