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Please workout on the answer. I am new to accounting and hence, I would appreciate if you could give details on the answer. The following
Please workout on the answer. I am new to accounting and hence, I would appreciate if you could give details on the answer.
The following is a summary of the petty cash transactions for a week.
Income | $ |
| Expenditure | $ |
Opening balance | 500 |
| Travelling expenses | 150 |
Sale of stamps | 10 |
| Subsistence expenses | 250 |
Sale of paper | 50 |
|
|
|
Petty cash is maintained using the imprest system.
What sum should be reclaimed by the cashier at the end of the week?
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