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Petty Cash Qn

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Petty Cash Qn

  • This topic has 3 replies, 3 voices, and was last updated 14 years ago by anitha89.
Viewing 4 posts - 1 through 4 (of 4 total)
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    Posts
  • September 8, 2010 at 2:56 pm #45214
    anitha89
    Participant
    • Topics: 12
    • Replies: 13
    • ☆

    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 $80

    I don’t have the answer sheet.. would be glad if someone could check for me.. :)..
    My answer is B $100..

    September 9, 2010 at 4:16 am #67843
    little_genius
    Member
    • Topics: 1
    • Replies: 5
    • ☆

    yeah u r ryt…ans z B=$100

    September 15, 2010 at 12:37 pm #67844
    pannanikt
    Member
    • Topics: 8
    • Replies: 83
    • ☆☆

    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

    September 16, 2010 at 2:17 pm #67845
    anitha89
    Participant
    • Topics: 12
    • Replies: 13
    • ☆

    many thanks guys.. :)..

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