On 1 August the petty cash balance equalled the imprest amount of $100. During August the petty

Question:

On 1 August the petty cash balance equalled the imprest amount of $100. During August the petty cashier spent $83 and received $20 from a member of staff in repayment of a loan.

What entry will be made on 31 August to restore the imprest?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cambridge IGCSE And O Level Accounting Coursebook

ISBN: 9781316502778

2nd Edition

Authors: Catherine Coucom

See More Books

Question Posted: Sep 14, 2021 01:04 AM

See More Questions

On August 1, City Delivery creates a petty cash fund with a balance of $450. During August, Eva Unger, the fund custodian, signs the following petty cash tickets: On August 31, prior to...
What is an imprest petty cash fund, and how does it work?
On August 3, Sonar Sales decides to establish a $275.00 Petty Cash Account to relieve the burden on Accounting a. Journalize this event Aug. 3 Petty Cash 275 Cash 275 b. On August 11, the petty cash...
This bar chart displays the demographics (age group and gender) of a Business Analysis class Business Analysts Students 23-33 3410 M lem How many male students are in the class? 65 80 130 50
A mercury lamp contains 0.0055 g of Hg vapor in a volume of 15.0 mL. If the operating temperature is 2,800 K, what is the pressure of the mercury vapor?
In a recent article U.S. News and World Report rated pediatric hospitals and provided data on several characteristics, including daily inpatient volume and nurse-to-patient ratio, for the top 30...
VLM Food Trading International, Inc. was a Canadian agricultural supplier. Starting in June 2012, VLM sold frozen potatoes to Illinois Trading Company, an Illinois produce distributor, through nine...
Mad Dog Enterprises manufactures computer game control devices like joysticks and steering wheels. Following is a list of the costs incurred by Mad Dog in 2012: Wages paid to assembly workers . . . ....
nx 1. A wave given by equation y = 1mm sin -5nt is produced in a string 100m long of mass 1 kg. 30 2. 3. What is the tension (in N) in string? x is in m & t in sec. You are trying to construct a...
Pat James, the purchasing agent for a local plant of the Oakden Electronics Division, was considering the possible purchase of a component from a new supplier. The components purchase price, $0.90,...
What is the purpose of a trial balance? A. To calculate the capital of the business B. To prove the arithmetical accuracy of the double entry C. To summarise the assets and liabilities D. To locate...
A trader provided the following extract from her petty cash book: What entries are made in the ledger on 30 April? A. Credit cleaning account, office expenses account, ledger accounts B. Credit...
Determine IDQ for the network of Fig. 7.84 using a purely mathematical approach. That is, establish a quadratic equation for 1D and choose the solution compatible with the network characteristics....
Which chart is commonly used to present financial data and outcomes? Line chart Pie chart Bar chart
"It is probably better to have mediocre technical skills and excellent international business communication skills than to have excellent technical skills and poor international business...
Here are the questions I want you to discuss. There are two parts (and one optional part): 1. What do you think of diversity in the film industry, both on screen and behind the camera (directors,...
Re-location of a firm's headquarters to another country to gain the benefits of a lower tax is called Aforeign direct investment inversion C extroversion Dimmersion
1. Explain how you worked with stakeholders to develop the benefits management plan including: List the stakeholders (name and position title) that you have communicated with in developing the...
Propose a mechanism for each of the following reactions: a. b. c. CH3 CH3 CH H2504 CH3 H2SO4 CH CH1 CHHBr_ CH3 CH
Write an essay describing the differing approaches of nursing leaders and managers to issues in practice. To complete this assignment, do the following: 1. Select an issue from the following list:...
If a company sells its products only from a website, which is accessible over the Internet to customers from all over the world, does it still need to worry about having a specific ta r get market?...
Explain, in your own words, what each of the four Ps involves.
Evaluate the texts statement, A marketing strategy sets the details of implement a tion.
What psychological frameworks, such as the Pomodoro Technique or the Eisenhower Matrix, offer insights into structuring time effectively and optimizing cognitive resources ?
What is a type of molecule capable of helping in intercellular communication and in activating leukocytes?
1.How do aminoglycosides exert their action? 2.How do quinolones and rifampin exert their action?

On 1 August the petty cash balance equalled the imprest amount of $100. During August the petty

Question:

Debit Credit А bank 63 petty cash book 63 в bank 83 petty cash book 83 C petty cash book bank 63 63 D petty cash book bank 83 83

Step by Step Answer:

Solution Answer is D Reason For simplicity and to maintain proper control ...View the full answer

Cambridge IGCSE And O Level Accounting Coursebook

Students also viewed these Business questions