Question
Osada Printing Ltd operates its petty cash account on the imprest system.Petty cash float is Rs. 5,000. During May 2019, the following petty cash transactions
Osada Printing Ltd operates its petty cash account on the imprest system.Petty cash float is Rs. 5,000. During May 2019, the following petty cash transactions arose:
May1 Cash received from main cash controller
1 Bus fares 40
2 Stationery 60
4 Bus fares 120
7 Postage stamps 60
7 Paid to creditor X 200
8 Bus fares 80
11 Tippex 50
12 Typewriter ribbons 90
14 Parcel postage 120
15 Paperclips 15
15 Newspapers 70
16 Photocopier repair 130
19 Postage stamps 76
20 Drawing pins 70
21 Train fare 65
22 Photocopier paper 175
23 Display decorations 80
23 Tippex 50
25 Wrapping paper 89
27 Sellotape 40
30 pens 60You are required to record the above transactions in the petty cash book and post the balances in the ledger at the end of the month.
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