CAT LLC had an opening balance of RO 200 in petty cash. During the month the receipts were RO 65 petrol, RO 25 office stationery, RO 65 staff welfare and RO 30 travelling and there was RO 12 left in the petty cash box. The fund amount was raised to RO 300 from the end of the month. The amount required to refill the fund will be a. RO 185 b. RO 285 c. RO 188 d. RO 288

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A:

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.