What is the balance of cash with the petty cashier at the end of period 1?

By: |Published on: Dec 3|Categories: Accounting JAMB| 0 comments

Period 1 N
Cash to petty cashier 1000
Petty cashier pays out 780
Period 2
Petty cashier pays out 840

 

A. 220
B. 780
C. 980
D. 1780

Correct Answer:

Option A – 220

Explanation

Period one income = N1,000 – N780 pay out = N220 balance

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