operates an imprest system for petty cash. On 1 February 20X3, the float was $300. It was decided that this should be increased to $375 at the end of February 20X3. During February, the cashier paid $20 for window cleaning, $100 for stationery and $145 for coffee and biscuits. The cashier received $20 from staff for the private use of the photocopier and $60 for a miscellaneous cash sale. What amount was drawn from the bank account for petty cash at the end of February 20X3? A $185 B $260 C $315 D $375
operates an imprest system for petty cash. On 1 February 20X3, the float was $300. It was decided that this should be increased to $375 at the end of February 20X3. During February, the cashier paid $20 for window cleaning, $100 for stationery and $145 for coffee and biscuits. The cashier received $20 from staff for the private use of the photocopier and $60 for a miscellaneous cash sale. What amount was drawn from the bank account for petty cash at the end of February 20X3? A $185 B $260 C $315 D $375
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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operates an imprest system for petty cash. On 1 February 20X3, the float was $300. It was decided that
this should be increased to $375 at the end of February 20X3.
During February, the cashier paid $20 for window cleaning, $100 for stationery and $145 for coffee and
biscuits. The cashier received $20 from staff for the private use of the photocopier and $60 for a
miscellaneous cash sale.
What amount was drawn from the bank account for petty cash at the end of February 20X3?
A $185
B $260
C $315
D $375
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