five hundred naria monthly is allowed on an imprest system. The following transactions took place….

Accounts - Principles of Accounts JAMB 2005

five hundred naria monthly is allowed on an imprest system. The following transactions took place.

Period1:
Cash advanced to petty cashier……N500
Petty cashier paid out: stamp…….N200
Newspaper………………………N250

Period 2:
Cash to petty cashier……………N450
Cashier paid for writing materials..N350

How much should the petty cashier receive after period 2?

  • N150
  • N250 checkmark
  • N350
  • N500

The correct answer is: B

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