Five hundred naria monthly is allowed on an imprest system. The following transactions took place.Period1: Cash advanced to petty cashier......₦500 Petty ca...

Assessment: JAMB UTME - Principles of Accounts - 2005 Subject: Financial Accounting

Question 1 Report

Five hundred naria monthly is allowed on an imprest system. The following transactions took place.Period1:

Cash advanced to petty cashier......₦500

Petty cashier paid out: stamp.......₦200

Newspaper...........................₦250Period 2:

Cash to petty cashier...............₦450

Cashier paid for writing materials..₦350What was the balance of cash with the petty cashier ata the end of period 1?

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