Question

CTN Corp. on November 1, 2019 formed a petty cash fund of Rp 5,000,000. Petty cash is filled every 10th, 20th and end of the month. The following are expenses that use petty cash funds from December 2 to December 10.

November 2019
2. Buy stamps and seals Rp. 50,000
3. Paying the freight of the purchase of Rp 50,000
4. Paying for water bill Rp 415,250
7. Purchase of office stationery Rp 1,131,000
8. Pay Rp 350,000 newspaper bills
8. Paying survey fees Rp 295,500
9. Pay Rp 328,500 survey fees
10. Refill cash

The following are petty cash disbursements from 11-20

11. Operational employee pulse topping of Rp 350,000
14. Purchase of meeting consumption Rp 250,000
15. Expand the results of the meeting (photocopy) of Rp 85,000
16. Paying survey costs Rp 1,950,000
19. Obstruction of remaining survey costs Rp 295,000
20 Petty cash refill

Requested: make a petty cash register along with the ledgers required by the method:
a. Imprest System
b. Fluctuation system
c. Management of PT. CTN sees that too little petty cash is formed. Management agreed to reduce petty cash to Rp. 3,000,000. Asked, make the necessary journals and input the changes into the ledger on the application of the two petty cash recording methods.

Answer 1

Under imprest system petty cash general ledger remain dormant with only the petty fund being replanished every time against expenses made. Balance always remains the same. Under imprest system, petty cash custodian maintains columnor petty cash expenses statement for cash replenishment request.

Under fluctuating petty cash system, every transaction will be posted to petty cash general ledger. All transactions are recorded directely in general ledger.

In case of decreasing the petty cash fund, under imprest system, Petty cash will be credited and cash will be debited for 2,000,000, under fluctuating petty cash system the next replinishment itself will be reduced to the extent of 2,000,000.

Cash Dr 2,000,000

Petty cash Cr 2,000,000