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How much petty cash fund should be reported to the statement

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Problem 1: If the fund is replenished at year-end, how much petty cash fund should be reported to the statement of financial position on December 31, 2020? (just show solution)

The Petty cash fund of Pasion de Amor Company on December 31, 2020 is composed of the following:

Currencies and coins P 2,000
Postage stamps 1,000
Memoranda showing expenditures for:
Postage 5,000
Supplies 4,000
Payment of Account 6,000
A sheet of paper with the name of the employees with a contribution for a birthday gift. 2,000

The imprest petty cash fund was established for P20,000.

Reference no: EM132835253

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