Menu SearchKuya Joseph's Blog to learn and to share what has been learned POSTED IN PETTY CASH, PART 3 Petty Cash, Part 3 PART III – Weird items sa petty cash and their appropriate treatments Acceptance Check – pag nagpasweldo yung kumpanya, minsan cheke. Ngayon, yung mga trabahador, minsan tinatamad magpunta sa banko para i-cash yung cheke nila. So ang ginagawa, lumalapit kay petty cash custodian. So, si petty cash custodian naman, tinatanggap, ina-“accept” yung cheke nila at pinapalitan. Kaya acceptance Check. Tanda to ng mahinang internal control. Usually, ang acceptance check, due and demandable yan so pede narin sya iconsider as Cash in Petty cash (parehas ng treatment sa bills and coins) kasi kahit anong oras pede ipapalit sa bank. UNLESS sinabing post dated yung cheke or tumalbog yung Check. Postdated Check – yun ung mga cheke na pinapapalitan sa petty cash (tigas ng ulo no, bawal nga to eh) na hindi pa due and demandable so, Receivable parin sya. NSF Check – eto ang malupet, pinapalitan na yung cheke sa petty cash tapos bigalng tumalbog. Syempre, Receivable sya dun sa nagpapalit ng Cheke. Postage Stamps – syempre Prepaid expense yan. Hindi yan considered as cash in petty cash na tulad ng bills and coins. Baket, pag bumili ka ba ng kendi kina aling nena, papayag sya na ibayad mo yung Stamp? Diba hindi? So, prepaid expenses siya. Certified Check – certified naman yung cheke, kikilanin ng bank so due and demandable sya so, Cash in Petty Cash sya. Birthday/ Wedding envelope – see explanation above: Empty – ibawas sa bills and coins kasi malamang napahalo yun dun May laman – ignore mo lang Expense vouchers – hindi naman weird to. Dapat talaga nag-iisue ng voucher yung petty cash custodian every disbursement para alam kung saan ginagastos. IOU – simply stated “I Owe You” or “vale”. Narinig mo na ba yung “babale muna ako”, or “bumale ka muna”. Yun ung VALE (pronounced as va-le not veyl). Simply put, umutang ang Empleyado. So, Receivable sya. Hindi all-inclusive to ah. baka may hindi pa ako namention. Kung meron pa, just post it here, papaliwanag ko kung ano yun. eto ang inyong kuya CPA, joseph! Post lang ng tanong! December 2, 2009 2 Replies Congratulations to the Graduates of Year 2011! God bless you all, you made your family and friends proud! Good luck to your upcoming review, CPA Exams, and career! NEW Problem Test Page I created a new page called "Problem Tests". I'll post problems, subukan nyong sagutin. Post nyo yung sagot nyo by commenting doon sa page na yun. :) Minsan, ididiscuss ko din yung mga items na nandun sa Lectures ko. Kuya Joseph’s Mini Lectures NAGBABALIK!!! Ako po ay nagbabalik at nangangakong madalas na magrereply! Maglalaan na ko ng oras sa blog ko po para mas marami tayong matulungan! I hope wag po kayo magsawang sumubaybay! Post lang ng tanong then I'll get to it as soon as possible. Sa mga nagtanong noong nakaraan na hindi ko nasagot, nais ko pong hingiin ang inyong paumanhin at paunawa, masyado lamang po ako busy noon at hindi nakapaglaan ng oras. Nung nabasa ko yung mga comments nyo kasi, medyo nakunsensya ako at nainspire na maglaan ng oras para sa blog despite the busy schedule :P Salamat po!! Join our new Facebook Group! If you have a facebook account, you could join our new group at: Kuya Joseph Lectures. Note: Please don't post your questions in our group's page. Post questions only here in our blog. I'll use it to update everyone for new lectures posted or questions answered. Thanks!! IMPORTANT NOTE Hello po! To those submitting questions, as much as possible, please quote the source of the problem if you got it from a book (title of the book/author) to avoid plagiarism. Just so you all know, I either compose my own problems or I get from books and quote the source. I hope you understand that it is not my intention to use other people's work in this site without proper recognition and that I don't get any monetary compensation or any form of benefit in doing this blog. I do out of passion in teaching and accounting. :) Paunawa :D Sorry talaga kung hindi po ako nakakapagpost recently, I've been very busy for the past couple of months. I promise I'llpost new lectures as soon as I can. :D Always check the "recent comments" or the "recent posts", usually lumalabas dun pag may comments ako naaapprove at nagrereply ako sa mga katanungan. Thanks!! Recent Comments Emily Amora Tadena on Error Correction (Sample Probl… chibi on Error Correction (Sample Probl… rainbow on Error Correction (Sample Probl… josephmestrada on Adjusting Entries questions josephmestrada on Error Correction (Sample Probl… Recent Posts Error Correction (Sample Problem) – counterbalancing errors Adjusting Entries questions Deposits in Transit & Outstanding Checks Operating Lease Accrual to Cash Accounting Interest Expense Notes Receivable/Payable Cash (bank recon and cash shortage) – audprob sample problem Notice po sa lahat Hello po sa lahat, let's try to maintain a good academic atmosphere in this blog by observing correct usage of punctuations and capitalization of letters. Di naman ako strict sa grammar(sentence construction) kasi informal naman discussions natin dito at taglish, yung sa punctuations and caps lang. Minsan kasi mahirap intindihin yung mga punctuations and caps. Salamat po!! Bagong Queries Page If your question does not relate to any of the topics I have published, you can post your question on the Queries Page (yung tab na katabi ng "About"). Sorry talaga kung di ako masyado nakakareply ngayon, medyo busy kasi pero soon enough, I'll be able to answer your questions po. Nababasa ko po yung mga pinopost nyong tanong at isa-isa ko sila ginagawaan ng lecture. Categories Accounts Receivable (with sample problem) Accrual to Cash Accounting Adjusting Entries Adjusting Entries, Part II Adjusting Entries, Part III Adjusting Entries, sample problems AR Impairment AR Impariment Follow-up Backflush Costing Cash & Non-Cash Items Cash (bank recon and cash shortage) – Audprob sample problem Cash – Sample Problem Closing Entries Costs and Expenses in a Business CVP, Breakeven, Differential Analysis Deposits in Transit and Outstanding Checks Differential Income Analysis (follow-up) Error Correction (Sample Problem) – counterbalancing errors Intangible Asset Intangible Assets (Goodwill, explained) Interest Expense (and some aud prob advices) Interest Question Inventory – Periodic and Perpetual Inventory Method Investments (Q&A's with Alexis' contribution :) ) Kiting, Explained (audit of cash) Margin of Safety Merchandising & Manufacturing Notes Receivable / Payable NSF Check and Bank Error treatment in Proof of Cash (for aud prob ppol) Operating Lease Petty Cash, Part 1 Petty Cash, Part 2 Petty Cash, Part 3 Postal Cash/Money Order Proof of Cash Receivable: Factoring Receivable: Factoring (with questions) Receivables Questions and Answers Reversing Entries Uncategorized Warranty Liability (part 1) Warranty Liability (part 2) Warranty Liabilty (part 3) Archives March 2011 July 2010 February 2010 January 2010 December 2009 November 2009 Search View Full Site Blog at WordPress.com.