5.6 LO4 A business operates a petty cash system using the imprest system with an allocation of...
Question:
5.6 LO4 A business operates a petty cash system using the imprest system with an allocation of $1,000. The opening balance is $1,000. During October the following transactions were completed through the petty cash account.
October 1 Bus fares claimed $25 October 3 Stationery $50 October 5 Stamps $50 October 6 Office supplies $85 October 7 Trade magazine $15 October 9 Registered post $12 October 11 Newspapers $7 October 13 Copy paper and print cartridges $120 October 15 Parcel postage $30 October 16 Stationery $50 October 18 Stamps $50 October 20 Bus fares claimed $25 October 22 Magazines $35 October 23 Office supplies $95 October 25 Repair of office equipment $150 October 28 Postage $60 October 30 Stamps $40 Complete the petty cash book from these transactions.
Are there payments made that ought not to have occurred in normal circumstances?
Step by Step Answer:
Accounting For Business Students
ISBN: 9781488616570
1st Edition
Authors: Peter Atrill, Eddie Mclaney, David Harvey