Use the information above to answer question Period 1: ........Cash to petty cashier.............N1000 ........Petty cashier...
FINANCIAL
JAMB 2009
Use the information above to answer question
Period 1:
........Cash to petty cashier.............N1000
........Petty cashier pays out............N780
Period 2:
........Petty cashier pays out............N840
What is the balance of cash with the petty cashier at the end of period 1?
- A. 220
- B. 780
- C. 980
- D. 1780
Correct Answer: A. 220
Explanation
period one income = N1,000- N780 pay out = N220 balance
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