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How much should be reported as cash in bank in the financial

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Company A's petty cash fund, which has an imprest balance of 5,000 showed a composition when counted as follows:

Bills 1,000

Coins 40

Vouchers - Transportation 1,200

Vouchers - Gasoline 887

Vouchers - Supplies 1,872

Problem 1: How much is petty cash fund? Prepare initial entry of variance upon discovery, if any

Company A provided the following information:

Balance per bank statement 10,000

Deposit in transit 4,000

Outstanding check 1,200

Bank service charge 887

Direct customer deposit 1,872

Problem 2: How much should be reported as cash in bank in the financial statement?

Reference no: EM132796948

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