question archive The following is an incomplete summary of Cheng's petty cash transactions for the period 16 to 30 June
The following is an incomplete summary of Cheng's petty cash transactions for the period 16 to 30 June
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The following is an incomplete summary of Cheng's petty cash transactions for the period 16 to 30 June. Assume that Cheng uses the Imprest System to manage the petty cash fund. Draw up the Petty Cash Book with an analysis column of (i) Office expenses (ii) Postage (iii) Miscellaneous RM Jun 16 Balance of petty cash in hand 84 Cash received to restore imprest of RM200 (i) ? 18 Paid for courier charges 15 19 Donation to Warrior's Day Fund 20 20 Paid for postage 5 27 Paid for office cleaning 40 29 Paid for detergent, brushes and gloves 12 30 Balance petty cash book and reimbursement received (ii)? Post to appropriate accounts in the ledger at the end of the period.
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Answer:
i)
As we are following imprest system the cash reimbursement will be same as the cash withdrawn from petty cash fund and next month opening will same as the previous month.
Answer Sheet:
ii)
Posting to relevant ledger accounts.
Answer Sheet:
PFA
