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hi sir
ignacius operates the imprest system for petty cash . at 1 july there was a float of $150 , but it was decide to increase this to $200 from 1 Aug onwards . During july , the petty cashier receive $25 from staff for using the photocopier and cheque for $90 was chased for an em ployee. in july , cheque were drawn for $500 for petty cah .how much cah was paid out as cash expenses by the petty chashier in july ?
A. 385
B.435
C.515
D.615i dunno how to answer the question .. can u help me sir . thx
I have asked you before (but you have not answered), why on earth are you practicing questions for which you do not have a printed answer? You must use a Revision Kit from one of the ACCA approved publishers.
If you do have an answer, then you should ask about what part of the answer you do not understand!!Also, have you really watched all of my free lectures? Because if you have you should not be needing to ask this question!
Do a quick t-account. They start with a debit balance of 150. They debit with cash received of 25 and money taken from the bank of 500. They credit with the 90 paid out to the employee. They end up with a balance of 200 (which will be on the credit side, and then carried forward to the debit side).
The missing figure to make the account balance will be the cash paid out for expenses.
U have ask me before?? When… sry for that… ?thx for ur explain sir..
So the ans is B.?
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