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    Cash Shortage: Accounting For Cash Shortage/Overage of Disbursing Officer

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    ALMA MORENA
    The document outlines accounting procedures for cash shortages and overages by disbursing officers, where shortages are the responsibility of the officer and overages are forfeited to the government if not explained, and provides journal entries to record these transactions.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Cash Shortage: Accounting For Cash Shortage/Overage of Disbursing Officer

    Uploaded by

    ALMA MORENA
    16 views1 page
    The document outlines accounting procedures for cash shortages and overages by disbursing officers, where shortages are the responsibility of the officer and overages are forfeited to the government if not explained, and provides journal entries to record these transactions.

    Original Description:

    govtacctg

    Original Title

    govtacctg-5

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    The document outlines accounting procedures for cash shortages and overages by disbursing officers, where shortages are the responsibility of the officer and overages are forfeited to the government if not explained, and provides journal entries to record these transactions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    16 views1 page

    Cash Shortage: Accounting For Cash Shortage/Overage of Disbursing Officer

    Uploaded by

    ALMA MORENA
    The document outlines accounting procedures for cash shortages and overages by disbursing officers, where shortages are the responsibility of the officer and overages are forfeited to the government if not explained, and provides journal entries to record these transactions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Accounting for Cash Shortage/Overage of Disbursing Officer

     The disbursing officer is liable for any cash shortage while any cash overage
    that he cannot satisfactorily explain to the auditor is forfeited in favor of the
    government.

    Cash Shortage

    Date Due from Officers and Employees xx


    Advances for/to…(Appropriate account) xx
    To recognize cash shortage of disbursing officer

    Date Cash – Collecting Officers xx


    Due from Officers and Employees xx
    To recognize restitution of cash shortage

    Date Cash – Treasury/Agency Deposit, Regular xx


    Cash – Collecting Officers xx
    To recognize restitution of cash shortage

    Cash Overage

    Date Cash – Collecting Officers xx


    Miscellaneous Income xx
    To recognize forfeiture of cash overage of the disbursing officer

    Date Cash – Treasury/Agency Deposit, Regular xx


    Cash – Collecting Officers xx
    To recognize the remittance of forfeited cash overage to the BTr

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