Question

The imprest amount is P100

The petty cash transactions for the month of April were as follows:

2013

April 1 Petty cash balance brought down P17.42

1 Petty cash restored to imprest amount

2. Brought pens for office stationery P4.70

3 Paid wages P7.05

4 Paid taxi fare P4.00

4 Bought envelopes for postage P3.98

5 Paid wages P8.50

6 Office cleaning materials P2.00

7.Car polish P3.00

8 Bought envelopes for office stationery P7.52

10.Petrol and oil P7.00

12 Paid Emmanuel for offloading the truck P2.20

15.Paid bus fares P11.85

22 Postage stamps P14.75

23 Office carpet shampoo P7.00

26 Petrol P7.00

29 Carbon paper( one packet) P4.00

You are required to:

a) Draw up a suitable petty cash book with expenditure columns for postage, stationery, wages,travel,cleaning and motor expenses

b) Enter the above transactions

c) Balance the petty cash book on April 30

d)Bring the balance down to the next month and enter the amount necessary to restore the imprest

Answer 1