QUESTION ONE Anopo Enterprise keeps a petty cash book on the imprest system, the imprest being...

 

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QUESTION ONE Anopo Enterprise keeps a petty cash book on the imprest system, the imprest being GHC 2,500,000 for the month of April 2015. Petty cash transactions for the period were as follows: GHC' 000 April 1 Petty cash balance 130 2 Petty cashier presented vouchers to cashier and obtained cash to restore the imprest 2,370 4 Bought postage stamps 850 9 Paid to Mavis Ansah, a creditor 235 11 Paid bus fares 172 17 Bought envelopes 95 23 Received cash for personal telephone call 378 26 Bought petrol 210 1 May, the Cashier reimbursed the petty cashier the amount spent in the month. Required a) Enter the above transactions in the petty cash book and balance the petty cash book at 30th April, bringing down the balance on 1st May. 10 marks b) Open the ledger accounts to complete the double entry for all the petty cash transactions. 8 marks c) Why do some businesses keep a petty cash book? 2 marks QUESTION ONE Anopo Enterprise keeps a petty cash book on the imprest system, the imprest being GHC 2,500,000 for the month of April 2015. Petty cash transactions for the period were as follows: GHC' 000 April 1 Petty cash balance 130 2 Petty cashier presented vouchers to cashier and obtained cash to restore the imprest 2,370 4 Bought postage stamps 850 9 Paid to Mavis Ansah, a creditor 235 11 Paid bus fares 172 17 Bought envelopes 95 23 Received cash for personal telephone call 378 26 Bought petrol 210 1 May, the Cashier reimbursed the petty cashier the amount spent in the month. Required a) Enter the above transactions in the petty cash book and balance the petty cash book at 30th April, bringing down the balance on 1st May. 10 marks b) Open the ledger accounts to complete the double entry for all the petty cash transactions. 8 marks c) Why do some businesses keep a petty cash book? 2 marks

Answer rating: 100% (QA)

A Petty Cash 20150401 130000 850000 20150404 20150402 2370000 235000 2015040... View the full answer