Period 1:
……..Cash to petty cashier………….N1000
……..Petty cashier pays out…………N780
Period 2:
……..Petty cashier pays out…………N840
A. 160
B. 840
C. 1000
D. 1040
Correct Answer:
Option D – 1040
Explanation
previous imprest – pay out in period 2;
1,000 – 840 = 160
Then when it is increased to 1200;
1200 – 160 = 1040
The petty cashier will be reimbursed with 1,040
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