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What amount of petty cash fund should be reported

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Question - Madilim Company reported an imprest petty cash fund of P50,000 with the following details:

Currencies P20,000

Coins 2,000

Petty cash vouchers:

Gasoline payments for delivery equipment 3,000

Medical supplies for employees 1,000

Repairs of office equipment 1,500

Loans to employees 3,500

A check drawn by the entity payable to the order of Grace dela Cruz, Petty cash custodian, representing her salary 15,000

An employee's check returned by the bank for insufficiency of fund 3,000

A sheet of paper with names of several employees together with contribution For a birthday gift of a co-employee. Attached to the sheet of paper Is a currency of 5,000

Required - What amount of petty cash fund should be reported in the statement of financial position?

Reference no: EM133097476

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