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krl_rdrg
Jul 24, 2010, 10:41 PM
B. Prepare the journal entries under both the fluctuating system and the imprest system for the following transactions:
2007
Nov 2 The company established an imprest pretty cash fund of P10,000.

30 An examination of the cash fund disclosed the following:

Currency and coin 3,000
Memoranda showing expenditures for:
Postage 2,000
Supplies 5,000

A check was drawn to replenish the fund and to increase its amount to P20,000.



Dec 31 The composition of the fund was as follows:

Currency and coin 11,000
Memoranda showing expenditures for:
Postage 3,000
Supplies 4,000
Deposit for 20 cases of softdrinks 2,000

The fund was not replenished.

2008
Jan 2 The deposit for the 20 cases of softdrinks is collected.

31 A check was drawn to replenish the fund. The composition was:

Currency and coin
Postage stamps
Memoranda showing expenditures since November 30, 2007 for:
Postage 5,000
Supplies 6,000
Payment of account 7,000

Curlyben
Jul 24, 2010, 10:46 PM
Thank you for taking the time to copy your homework to AMHD.
Please refer to this announcement: https://www.askmehelpdesk.com/finance-accounting/announcement-font-color-ff0000-u-b-read-first-expectations-homework-help-board-b-u-font.html