GRACE CORPORATION

Petty Cash Count Sheet

January 5, 2012 at 8:00 AM
Denomination Quantity Total
BILLS PhP 500.00 1 500.00
PhP 200.00 1 200.00
PhP 100.00 2 200.00
PhP 50.00 3 150.00
PhP 20.00 5 100.00
COINS PhP 10.00 9 90.00
PhP 5.00 20 100.00
PhP 1.00 60 60.00
PhP 0.10 40 4.00
Total Currencies 1,404.00
Note:The client uses the imprest fund system for accounting their
petty cash items, adjusting entry for the petty cash acount is necessary.

Grace Corporation
Cash Account Balance per Audit
December 31, 2011
Coins and Bills per Count 1,404.00
 Undeposited Checks (Cash on Hand)
PCIB Check #2255 484,000.00
FEBTC Check #408 165,550.00
PNB Check #1122 186,250.00
PCIB Check #4425 93,750.00
FEBTC Check #775 204,475.00 1,134,025.00
Adjusted Cash in Bank Balance per Bank
Reconciliation 13,096,730.00
Total Cash
Balance 14,232,159.00

GRACE CORPORATION
Bank Confirmation
CUSTOMER NAME
[PCI Bank]
[15 Ninoy Aquino Avenue, Paranaque City]

We have provided to our accountants the following information as of the close of

business on December 31, 2011,regarding the client’s deposit and loan balances. Please
confirm the accuracy of the information, not exceptions to the information provided. If
the balances have been left intact, please complete this form by furnishing the balance
in the appropriate space below. Although we do not request nor expect you to conduct
a comprehensive search of your records, if during the process of completing this
confirmation additional information about other deposit and loan we may have with you
comes to your attention, please disclose such information below. Please use the
enclosed envelope to return the form directly to our auditors.

1. At the close of business on the date listed above, our records indicated the
following deposit balance(s):

Account Name Account no. Interest Rate Balance

Grace Corporation 4486-9156-80 2% Php 13,096,730

SARAH B. TUASON January 12, 2012

MARK BENSON P. PUZON January 14, 2012

Chief Accountant

Exceptions/Comments and Suggestions

Grace Corporation
Petty Cash Shortage/Overage
December 31, 2011
Total Bills & Coins 1,404.00
Unreplenished
Vouchers:
 PVC no.: 801 2,000.00
GRACE CORPORATION
802Cash
2,050.00
Count Sheet
803 January
250.005, 2012
Denomination 804 500.00 Quantity Tota
BILLS PhP 500.00 805 150.00 1 500.00
PhP 200.00 806 2,550.00 1 200.00
PhP 100.00 807 2,550.00 2 200.00
PhP 50.00 808 250.00 10,300.00 3 150.00
PhP Total Petty Cash
20.00 Accounted 5 11,704.00 100.00
COINS PhP Petty Cash10.00
Balance per Ledger 1,700.00 9 90.00
PhP Petty Cash 5.00
Vouchers per Book: 20 100.00
PhP PVC no.,: 1.00 800 2,000.00 60 60.00
PhP 0.10 801 2,050.00 40 4.00
Total Currencies 802 800.00 1,404.00
tems for Cash 803 250.00
Checks on hand Date 804 No.500.00
Check OR Payor Amoun
12/28/11 805 150.00
PCIB Check #2255 118 Louie Tan 484,000.00
12/30/11 806 2,550.00
FEBTC Check #408 8,300.00119 Eagle Contrctors 165,550.00
Total Petty Cash Accountabilities
12/30/11 PNB Check #1122 120 10,000.00
Dynasty Construction 186,250.00
Petty Cash Overage Benitez
1,704.00
12/31/11 PCIB Check #4425 121 Merchandising 93,750.00
12/31/11 FEBTC Check #775 122 Susan de Leon 204,475.00
1/3/12 PNB Check #203 123 Luli Samson 29,725.00
Total Checks on hand 1,163,750.0

Unreplenished Vouchers
Date Particulars PVC no. Payee Amoun
Representation
12/10/11 Expense 801 Luigi's Deli 2,000.00
12/10/11 Gasoline Expense 802 Mobilshel Gas Station 2,050.00
12/18/11 Transportation Expense 803 Taxi Driver 250.00
12/20/11 Utilities Expense 804 MWSS 500.00
12/21/11 Miscellaneous Expense 805 Bureau of Posts 150.00
12/29/11 Gasoline Expense 806 Mobilshel Gas Station 2,550.00
Cash Advanves or IOUs
12/29/11 807 Maricel Pastor 2,550.00
12/29/11 808 Jon Sandoval 250.00
Total Cash Vouchers 10,300.00
Total Cash Fund per Count 1,175,454.0
Notes: PNB Check # 203 is a postdated check which will not be included to the general cash balance for the
year ended December 31, 2011 until the specified date of its validity has elapsed.
The Php 800.00 payment to the PLDT for the Telephone Bills of the client cannot be properly
identified due to lack of supporting document (i.e. Petty Cash Voucher) and was considered
a fictitious transaction in the Petty Cash Books.
Total Petty Cash count amounted to Php 1404.00 shows a shortage as compared
to the Petty Cash Ledger account of Php 396.00
 I hereby acknowledge that the above cash fund items were counted and the
same was returned to me intact. I also further acknowledge petty cash over of one
thousand seven hundred four pesos only (Php 1704.00). I have no other fund
accountabilities.

ANGELINE J. ALVAREZ-GUILLERMA
Cash Custodian
Grace Corporation
Bank Reconciliation - Adjusted Balance Method
December 31, 2011
Ledger Books
Unadjusted Cash in Bank 4,709,230.00
balance per
Reconciling items per
Date Credit Memos: Deposits in Transit:
12/13/11 Redeposited Check #4825 500,000.00 1/5/12
Proceeds fo Discounted
12/28/11 Note 7,900,000.00
Collection of Promisory
12/29/11 Note 490,000.00 8,890,000.00
Debit Memos: Outstanding Checks:
12/10/11 DAIF Check #4825 500,000.00 12/10/11 Check # 1
12/29/11 Bank Service Charge 2,500.00 502,500.00 12/12/11 Check # 1
12/26/11 Check # 1
12/27/11 Check # 1
12/28/11 Check # 1
12/30/11 Check # 1
Adjusted Cash in Bank balance 13,096,730.00