Petty cash fund had an opening balance of RO 700.During the month the receipts were RO 245 petrol,85 office stationery,RO125 staff welfare and 90 travelling and there was RO 145 left in the petty cash box.How much is the amount required to be refill in the petty cash fund? a. RO 750 b. RO 765 c. RO 650 d. RO 555

Petty cash fund had an opening balance of RO 700.During the month the receipts were RO 245 petrol,85 office stationery,RO125 staff welfare and 90 travelling and there was RO 145 left in the petty cash box.How much is the amount required to be refill in the petty cash fund? a. RO 750 b. RO 765 c. RO 650 d. RO 555

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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7. Journalize the entries to record the following: established a petty cash fund of $350 The amount of cash in the petty cash fund is now $130. The fund is replenished based on the following receipts: office supplies, 116; Sep 1 Sep 30 postage $100. Record any discrepancy in the cash short and over account. D Focus
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