Petty cash restored to imprest amount in cash. His transactions for the week beginning 1 October 20-1 were as follows: Rashid is a sole trader who keeps an analysed petty cash book using the imprest system. ting Workbook The imprest amount is $100. October 1 Balance of petty cásh. 21 ASD 4 Paid bus fares. Bought envelopes. 20 4 12 Bought postage stamps. Paid Ali, a credit supplier. Paid taxi fare. 30 Paid cleaner's wages. 10 87 7 Paid Zafar, a credit supplier. a Write up Rashid's petty cash book for the week ending 7 October 20-1. Use four analysis columns travel, postages and stationery, cleaning, and ledger accounts. Balance the book on 7 October and bring down the balance on 8 October. Make an entry on 8 October to restore the petty cash to the imprest amount. b Post the analysis columns to the appropriate accounts in Rashid's ledgers. C. State where the double entry will be found for the restoration of the imprest amount on 1 October. d State the section of Rashid's statement of financial position at 7 October 20-1 in which pett) cash would appear. State the amount of petty cash which would appear. ninto aro banked eac
Petty cash restored to imprest amount in cash. His transactions for the week beginning 1 October 20-1 were as follows: Rashid is a sole trader who keeps an analysed petty cash book using the imprest system. ting Workbook The imprest amount is $100. October 1 Balance of petty cásh. 21 ASD 4 Paid bus fares. Bought envelopes. 20 4 12 Bought postage stamps. Paid Ali, a credit supplier. Paid taxi fare. 30 Paid cleaner's wages. 10 87 7 Paid Zafar, a credit supplier. a Write up Rashid's petty cash book for the week ending 7 October 20-1. Use four analysis columns travel, postages and stationery, cleaning, and ledger accounts. Balance the book on 7 October and bring down the balance on 8 October. Make an entry on 8 October to restore the petty cash to the imprest amount. b Post the analysis columns to the appropriate accounts in Rashid's ledgers. C. State where the double entry will be found for the restoration of the imprest amount on 1 October. d State the section of Rashid's statement of financial position at 7 October 20-1 in which pett) cash would appear. State the amount of petty cash which would appear. ninto aro banked eac
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 1MP
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