ACCOUNTING

JAMB 2005 - Question 10

Account 2005 JAMB Past Questions - Question 10: Five hundred naira monthly is allowed, on an imprest system. The following transactions took place:  Period 1: N Cash advanced to petty cashier 500 Petty cashier paid out: Stamp 200 Newspapers 250  Period 2: Cash to petty cashier 450 Cashier paid for writing materials 350 What was the balance of cash with the petty cashier at the end of period 1?

Choose the most appropriate option for the gap .
Five hundred naira monthly is allowed, on an imprest system. The following transactions took place:  Period 1: N Cash advanced to petty cashier 500 Petty cashier paid out: Stamp 200 Newspapers 250  Period 2: Cash to petty cashier 450 Cashier paid for writing materials 350
What was the balance of cash with the petty cashier at the end of period 1?
A:
B:
C:
D:
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Correct Answer

A

Explanation

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