Category: Online Quiz

Amount to be reimbursed at the end of the month is

Amount to be reimbursed at the end of the month is

Online Quiz
Use the following information to answer questions 6 and 8 Taiwo is a sole trader who keeps his petty cash on the imprest system, the imprest amount being #4,000. The following transactions took place for a particular month: # Dec 1       Petty cash in hand                                     517 1               Petty Cash to imprest amount                      3,483 6              Bought note books                                    328 7              Paid Wages                                                 914 14            Bought postage stamps                            375 16            Paid to J. Thomas Stamps, a creditor   536   6) Amount to be posted to the personal ledger is a) #765 b) #585 c) #536 d) #517 7) Amount spent on stati