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5. Postage stamps (received from a customer as a payment for a small purchases 8.00 from Sampaguita in December, 2019) Further investigation also disclosed that a cash sale of merchandise last Jan. 2, 2020 amounted to P555.40 as shown by the sales records, while the cash receipts and bank deposit slip showed that only P455.40 was deposited at BDO on Jan. 3, 2020. You also found that the pay envelopes of the following employees had been opened, but the money was not removed was not removed from the envelopes. Each envelope was marked "Unclaimed" and opened- W. Martinez- For the week ending Dec. 30, 2019. H. Bautista- For the week ending Dec.23, 2019. P24.65 P23.25 Make a: 1. Petty cash count sheet as of Jan. 5, 2020

5. Postage stamps (received from a customer as a payment for a small purchases 8.00 from Sampaguita in December, 2019) Further investigation also disclosed that a cash sale of merchandise last Jan. 2, 2020 amounted to P555.40 as shown by the sales records, while the cash receipts and bank deposit slip showed that only P455.40 was deposited at BDO on Jan. 3, 2020. You also found that the pay envelopes of the following employees had been opened, but the money was not removed was not removed from the envelopes. Each envelope was marked "Unclaimed" and opened- W. Martinez- For the week ending Dec. 30, 2019. H. Bautista- For the week ending Dec.23, 2019. P24.65 P23.25 Make a: 1. Petty cash count sheet as of Jan. 5, 2020

Century 21 Accounting General Journal
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section5.4: Petty Cash
Problem 1WT
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CASE 2 As the representative of the Santos & Associates, CPASS, you are auditing the books and records of SAMPAGUITA COMPANY as of Dec. 31, 2019. On Jan. 5, 2020, you began counting the petty cash fund and other funds with the cashier, Mrs. Ruth Moldes, and you found bills, coins, checks, vouchers, etc. The petty cash fund amounts to P600. 1. Bills and coins P280.40 2. Checks Date Drawers Рayees Sampaguita Co. Sampaguita Co. Dec. 24, 2019 R. Reyes, customer M.Cruz, customer 120.00 Dec. 26, 2019 3. IOUS 130.00 Date Employees Oct. 21, 2019 Dec. 20, 2019 Aga Nino 25.00 N. Santos 15.00 J. Lising B. Agets Dec. 23, 2019 10.00 Jan. 3, 2020 20.00
Transcribed Image Text:CASE 2 As the representative of the Santos & Associates, CPASS, you are auditing the books and records of SAMPAGUITA COMPANY as of Dec. 31, 2019. On Jan. 5, 2020, you began counting the petty cash fund and other funds with the cashier, Mrs. Ruth Moldes, and you found bills, coins, checks, vouchers, etc. The petty cash fund amounts to P600. 1. Bills and coins P280.40 2. Checks Date Drawers Рayees Sampaguita Co. Sampaguita Co. Dec. 24, 2019 R. Reyes, customer M.Cruz, customer 120.00 Dec. 26, 2019 3. IOUS 130.00 Date Employees Oct. 21, 2019 Dec. 20, 2019 Aga Nino 25.00 N. Santos 15.00 J. Lising B. Agets Dec. 23, 2019 10.00 Jan. 3, 2020 20.00
4. Unreplenished petty cash vouchers Payee Account Charged Freight In Adv. To Officers& Employees Supplies Expense Supplies Expense Miscellaneous Expense Date Dec. 15, 2019 UCP 13.65 Dec. 17, 2019 M. Dilig 5.00 Dec. 18, 2019 Creus & Co. 8.75 Dec. 20, 2019 Post Office 20.00 Dec. 21, 2019 N. Santos 10.20 Dec. 21, 2019 Lerma Trading Supplies Expense 8.35 Jan. 2, 2020 J.A.Nite Supplies Expense 16.00 5. Postage stamps (received from a customer as a payment for a small purchases 8.00 from Sampaguita in December, 2019) Further investigation also disclosed that a cash sale of merchandise last Jan. 2, 2020 amounted to P555.40 as shown by the sales records, while the cash receipts and bank deposit slip showed that only P455.40 was deposited at BDO on Jan. 3, 2020. You also found that the pay envelopes of the following employees had been opened, but the money was not removed was not removed from the envelopes.. Each envelope was marked "Unclaimed" and opened- W. Martinez- For the week ending Dec. 30, 2019. H. Bautista- For the week ending Dec.23, 2019. P24.65 P23.25 Make a: 1. Petty cash count sheet as of Jan. 5, 2020
Transcribed Image Text:4. Unreplenished petty cash vouchers Payee Account Charged Freight In Adv. To Officers& Employees Supplies Expense Supplies Expense Miscellaneous Expense Date Dec. 15, 2019 UCP 13.65 Dec. 17, 2019 M. Dilig 5.00 Dec. 18, 2019 Creus & Co. 8.75 Dec. 20, 2019 Post Office 20.00 Dec. 21, 2019 N. Santos 10.20 Dec. 21, 2019 Lerma Trading Supplies Expense 8.35 Jan. 2, 2020 J.A.Nite Supplies Expense 16.00 5. Postage stamps (received from a customer as a payment for a small purchases 8.00 from Sampaguita in December, 2019) Further investigation also disclosed that a cash sale of merchandise last Jan. 2, 2020 amounted to P555.40 as shown by the sales records, while the cash receipts and bank deposit slip showed that only P455.40 was deposited at BDO on Jan. 3, 2020. You also found that the pay envelopes of the following employees had been opened, but the money was not removed was not removed from the envelopes.. Each envelope was marked "Unclaimed" and opened- W. Martinez- For the week ending Dec. 30, 2019. H. Bautista- For the week ending Dec.23, 2019. P24.65 P23.25 Make a: 1. Petty cash count sheet as of Jan. 5, 2020
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