Fine Teas operates its petty cash account on the imprest system. It is maintained at a figure of £140, with the balance being restored to that amount on the first day of each month. At 30 April the petty cash box held £24.37 in cash.

During May the following petty cash transactions arose:

Required:

(a) Open and post the company’s analysed petty cash book for the period 1 May to 1 June inclusive.

(b) Balance the account at 31 May.

(c) Show the imprest reimbursement entry on June 1.

Transcribed Image Text:

May 1 Cash received to restore imprest (to be derived) 1 Bus fares 2 4 Stationery Bus fares 7 Postage stamps 7 Trade journal 8 Bus fares 11 12 14 Parcel postage 15 Paper clips 15 Newspapers 16 Photocopier repair 19 20 21 Highlighter pens Lightbulbs Postage stamps Drawing pins Train fare E ? 0.41 2.35 0.30 6.50 0.95 0.64 1.29 5.42 3.45 0.42 2.00 16.80 1.50 0.38 5.40