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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How to do question C and D
Transcribed Image Text:His transactions for the week beginning 1 October 20-1 were as follows:
ting Workbook
Rashid is a sole trader who keeps an
The imprest amount is $100.
analysed petty cash book using the imprest system.
October 1
21
Balance of petty cásh.
Petty cash restored to imprest amount in cash.
4
Paid bus fares.
Bought envelopes.
20
4
12
Bought postage stámps.
Paid Ali, a credit supplier.
8.
Paid taxi fare.
30
6
Paid cleaner's wages.
10
87
7
Paid Zafar, a credit supplier.
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.
a
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-l in which pett)
cash would appear. State the amount of petty cash which would appear.
25 Kate is a trader. She maintains a cash book and a petty cash book. All receipts are banked eac
day. All payments are made by cheque unless under $15, when they are paid from petty cash.
The following information is available for the week beginning 25 July 20-6:
%$4
Balances
July 25 Bank overdraft
750
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