Question

Question 3
(a) KK operates a petty cash on imprest system with a float of GH¢23,000 reimbursement is made such that cash in hand does not fall below GH¢3,000. Below is the summary of the petty cash transactions for the month of July 2015. Each transaction came with its own unique payment voucher.

July 1 Received reimbursement from the chief cashier GH¢1,600.

July 4 Pens GH¢1,800, stamp GH¢1,400 and A4 paper GH¢1,600.

July 5 Stamp GH¢1,500, wages GH¢1,200 and cleaning GH¢1,800.

July 6 Taxi fare GH¢1,300, wages GH¢1,600.

July 7 Repairs GH¢1,200, office cleaning GH¢1,400.

July 18 Stamps GH¢1,000, stapler pins GH¢1,700.

July 20 Minor repairs GH¢1,800, telegram GH¢1,900.

July 23 Photocopies GH¢1,600, taxi fare GH¢1,180.

July 29 Cleaning GH¢1,200, postage           GH¢1,220.

Required:
Prepare a petty cash book for the company.

Answer 1

petty cash book

Recipt	Date	Details	payments	Stamps	wages	cleaning	taxifair	Repairs	others
3,000		opening balance
1600	july1	cash recived
	july4	4 Pens, stamp and A4 paper	4,800	1,400					3,400
	july 5	stamp,wages,cleaning	4,500	1,500	1,200	1,800			--
	july 6	taxi fair,wages	2,900		1,600		1,300		--
	july 7	Repairs,office cleaning	2,600			1,400		1,200	--
	july 18	Stamps , stapler pins	2,700	1,000					1,700
	july 20	Minor repairs , telegram	3,700					1,800	1,900
	july 23	Photocopies , taxi fare	2,780				1,180		1,600
	july 29	Cleaning, postage	2,420			1,200			1,220
21,800	july 31	cash recived
26,400			26,400	3,900	2,800	4,400	2,480	3,000	9,820