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Mark use the imprest method of accounting for petty cash.
The petty cash was counted and there was $57.22 in hand. The following petty
cash slips were found for the following:
$
Stamps 16.35
Sale of goods to staff 12.00
Coffee and tea purchase 18.23
Birthday cards for staff 20.20
What is Mark’s imprest amount?
A $124
B $100
C $112
D $80I don’t have the answer sheet.. would be glad if someone could check for me.. :)..
My answer is B $100..at the end must have 57.22 – so reverse 57.22 plus (20.20+18.23+16.35) as they are expenses paid from petty cash an minus 12 as it is an income from sale
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