How much should the petty cashier receive after period 2?

By: |Published on: Dec 6|Categories: Accounting JAMB| 0 comments

Five hundred naria monthly is allowed on an imprest system. The following transactions took place.

Period1:
Cash advanced to petty cashier……N500
Petty cashier paid out: stamp…….N200
Newspaper………………………N250

Period 2:
Cash to petty cashier……………N450
Cashier paid for writing materials..N350

A. N150
B. N250
C. N350
D. N500

Correct Answer:

Option B – N250

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