the latest balance in the checkbook. Figure
II-5-82 shows the balances of the ROMAN
CATHOLIC
ACCOUNT
(
||content||
,544.70),
the
PROTESTANT ACCOUNT (
||content||
,652.66), and
the COMPOSITE BALANCE (,197.36).
After comparing the COMPOSITE BALANCE
(,197.36) on the Receipts and Expenditures
Record with the latest checkbook figure, the ad-
ministrator would discover that a difference
existed. The checkbook figure reflects that there
is ,147.36 in the CRP chapel fund vice the
.197.36 shown on the Receipts and Expendi-
ture Record. There is a valid reason for this dif-
ference! Figure II-5-83 shows the memorandum
entry m which the petty cash fund was estab-
lished at the beginning of the fiscal year. A
check was written for which reduced the
total amount in the checking account by .
However, this expenditure, for both the
Roman Catholic and Protestant accounts, was
not subtracted from their respective accounts on
the Receipts
and Expenditures
Record;
therefore, throughout the course of the fiscal
year, the checking account balance was always
less than the composite balance shown on
the Receipts and Expenditures Record.
The following arithmetic functions will yield
the figures necessary for completing this step:
Roman Catholic
Protestant
Receipts and Expendi-
tures Record
Petty Cash Fund
Account Cash in Bank
Group
Roman Catholic
Protestant
CRP Fund Cash in Bank
$ 1,544.70
$ 1,652.66
25.00
25.00
$ 1,519.79
||content||
,627.66
Account Cash in Bank
$ 1,519.70
+ 1,627.66
,147.36
In the first problem, the administrator simply
subtracts the which each group has in the
petty cash fund from the 30 September account
balances on the Receipts and Expenditures
Record to yield the account cash in bank for
the Roman Catholic and Protestant accounts.
The resultant differences are placed in the
spaces provided under ROMAN CATHOLIC
ACCOUNT (
||content||
,519.70) and PROTESTANT
ACCOUNT (
||content||
,627.66). In the second problem,
these two figures are added and the total
(,147.36) is inserted in the TOTAL column of
the statement.
The NETPDC Command Religious Program
chapel fund has a balance of ,147.36 in the
checking account at the end of this last quarter
of fiscal year 1980.
11. PETTY CASHthe administrator in-
serts in the spaces provided under ROMAN
CATHOLIC ACCOUNT and PROTESTANT
ACCOUNT. These two figures are added and
the total () is inserted in the space provided in
the TOTAL column of the statement.
12. OTHERthis section will not be used
for this application.
13. NET WORTH, END OF PERIODin
this section, the money in the petty cash fund is
added to the checking account balance to obtain
the net worth of the fund at the end of the
period. The following arithmetic functions will
yield the figures necessary for completing this
step.
Roman Catholic
Protestant
Cash in Bank
$ 1,519.70
$ 1,627.66
Petty Cash
+ 25.00
+25.00
Net Worth
$ 1,544.70
$ 1,652.66
Group
Net Worth
Roman Catholic
$ 1,544.70
Protestant
+ 1,652.66
CRP Net Worth
,197.36
In the first problem, the administrator adds the
which each group has in the petty cash fund
to the checkbook balance to determine each ac-
counts net worth. The totals are placed in the
spaces provided under ROMAN CATHOLIC
ACCOUNT (
||content||
,544.70) and PROTESTANT
ACCOUNT (
||content||
,652.66). In the second problem,
these two figures are added and the total
(,197.36) is inserted in the TOTAL column of
the statement.
5-42