five hundred naria monthly is allowed on an imprest system. The following transactions took place....
FINANCIAL
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
What was the balance of cash with the petty cashier at the end of period 1?
- A. N50
- B. N200
- C. N300
- D. N450
Correct Answer: A. N50
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