A trader maintains a petty cash book using the imprest system. The monthly imprest is $120. The
Question:
A trader maintains a petty cash book using the imprest system. The monthly imprest is $120. The petty cash transactions during August were:
How much was given to the petty cashier on 1 September to restore the imprest?
A. $26
B. $37
C. $83
D. $94
Transcribed Image Text:
Payments Taxi fare 12 Stationery 31 Postage 8 Waheed, a credit supplier 43 Receipts Refund for damaged stationery 11
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (8 reviews)
answer B 37 explanation The petty cash balance should always match the or...View the full answer
Answered By
Nikka Ella Clavecillas Udaundo
I have a degree in psychology from Moi University, and I have experience working as a tutor for students in both psychology and other subjects. I am passionate about helping students learn and reach their potential, and I firmly believe that everyone has the ability to succeed if they receive the right support and guidance. I am patient and adaptable, and I will work with each individual student to tailor my teaching methods to their needs and learning style. I am confident in my ability to help students improve their grades and reach their academic goals, and I am excited to work with a new group of students.
0.00
0 Reviews
10+ Question Solved
Related Book For
Cambridge IGCSE And O Level Accounting Coursebook
ISBN: 9781316502778
2nd Edition
Authors: Catherine Coucom
Question Posted:
Students also viewed these Business questions
-
Abdul maintains a petty cash book with an imprest amount of $150, which is restored on the first day of each month. He provided the following information on 31 August: $ Total of sundry expenses...
-
On September 1, Cool Salad Dressings creates a petty cash fund with an imprest balance of $250. During September, Michael Martell, the fund custodian, signs the following petty cash tickets: On...
-
On August 1, City Delivery creates a petty cash fund with a balance of $450. During August, Eva Unger, the fund custodian, signs the following petty cash tickets: On August 31, prior to...
-
Chiz enterprise reports its gross sales/receipts during the quarter as follows: Sale of computers Gross receipts - computer repairs Sales returns and allowances Sales discounts for early payments...
-
If 5.55 1022 atoms of He occupy a volume of 2.06 L at 0(C at 1.00 atm pressure, what volume do 2.08 1023 atoms of He occupy under the same conditions?
-
Carney, Pierce, Menton, and Hoehn are partners who share profits and losses on a 4:3:2:1 basis, respectively. They are beginning to liquidate the business. At the start of this process, capital...
-
There are a number of limiting factors identify these and discuss them using illustrative examples related to hospitality, tourism or events.
-
Profitability and risk analysis in a cross-section setting This problem compares the profitability and risk ratios of three leading discount chains: Carrefour, Target, and Wal-Mart. Carrefour,...
-
Two ships 1600 ft apart detect a submarine directly between them. The angle of depression from the first ship to the submarine is 40 and from the second ship is 28. Find the distance between the...
-
Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2018, in exchange for $900,000 cash. At the acquisition date, Stanford's total fair value,...
-
The following account appeared in Annas ledger: Which statement is correct? A. On 5 January Jodie sold goods, $500, to Anna. B. On 7 January Anna returned goods, $20, to Jodie. C. On 29 January Anna...
-
a. Explain how economic growth can occur without the price level increasing. b. Discuss what policy measures a government might use to increase the countrys economic growth rate.
-
Boeing Company has had its financial ups and downs. Recently, the CFO for Boeing helped turn its problems around by analyzing the amount of value each product was providing to the company's bottom...
-
Walton Sporting Goods Corporation makes two types of racquets, tennis and badminton. The company uses the same facility to make both products even though the processes are quite different. The...
-
Discuss the role of intertextuality in James Joyce's "Ulysses." How does Joyce reference and reinterpret classical texts to build the novel's layered narrative ?
-
The Fiat Lux lamp company manufactures metal lamps using a variety of different metals and their production is constrained by how much of each metal they have on hand. For the next month, the company...
-
what ways do the works of Virginia Woolf address the limitations placed on women in society, and how does she advocate for a redefinition of gender roles in literature ?
-
On April 1, 2020, The Proton Company had 60,000 units in its work in process inventory, 100% complete with respect to materials and 40% complete with respect to conversion costs. During April,...
-
Your company, Rasmussen Consulting, was hired by MovieFlix, a company that provides subscription service for on-demand Internet streaming media and DVD-by-mail within the U.S. You are the consultant...
-
Let X be a random variable taking on values a1, a2, . . . , pr with probabilities p1, p2, . . . , pr and with E(X) = μ. Define the spread of X as follows: This, like the standard deviation, is a...
-
Explain the major differences among the four basic types of growth opportunities discussed in the text and cite examples for two of these types of opportunities.
-
Explain why a firm may want to pursue a market penetration opportunity before pu r suing one involving product development or diversification.
-
In your own words, explain several reasons why a marketing manager should co n sider international markets when evaluating possible opportunities.
-
Section X manufactures a product used by many manufacturers. Here are the sales and cost data for the product: Selling price per unit in the middle market: $77 Variable cost per unit: $32 Fixed cost...
-
The unadjusted trial balance of Pina Ltd., a public company following IFRS, at December 31, 2023, is as follows: Debit Credit Cash $11,300 Accounts receivable 59,000 Allowance for doubtful accounts...
-
Ceder Company has compiled the following data for the upcoming year: Sales are expected to be 13,000 units at $47.00 each. Each unit requires 3 pounds of direct materials at $2.30 per pound. Each...
Study smarter with the SolutionInn App