Reference no: EM132744523
In your year-end audit of the company, the cashier showed a cash accountability of Php 12,000 as at December 31, 2017. Selected transactions of the Corporation for the succeeding calendar year in summary from follow:
Accounts written off 5,000
Depreciation of fixed assets 30,000
Disbursements for cost and expenses 750,000
Income tax accrued 10,000
Payment of bank loan 45,000
Subscriptions receivable 300,000
Subscribed capital stock 900,000
Proceeds from short-term bank loan 100,000
Purchases of fixed assets 450,000
Sales (80% collected) 770,000
Problem 1: How much is the cashier's cash accountability at December 31 of the following calendar year?