Tag: recording and posting of cash transactions
Questions Related to recording and posting of cash transactions
The following is the summary of the petty cash transactions for a week:
Income - Opening Balance - Rs. 500; Sale of Stamps - Rs. 10; Sale of Paper - Rs. 50
Expenditure - Travelling expenses - Rs. 150; Subsistence expenses - Rs. 250
Petty cash is maintained using the imprest system.
What sum should be reclaimed by the cashier at the end of the week ?
Impress amount -Rs. 500. what will be the amount of re-imbursement if following expenses were incurred by the petty cashier during the month-telephone = Rs. 150, Tiffin = Rs. 50, small Repairs. =Rs. 30 general expenses = Rs. 100.
On April 1st 2017, Rs. 1,000 given to petty cashier, he has spent Rs. 860 during the month of April. On June 1st to make the imprest he will receive the cheque for Rs. __________.
Postage stamps purchased for Rs. 30 by business. This transaction will be recorded in ________________.
Which of the following is/are advantages of the imprest system?
Cash book in which the payment side is ruled in suitable columns is ____________.
The petty cashier generally works on ______system.
Closing balance of cash book is _____________ balance.
Credit balance of bank account in cash book shows ______________.
Total of the debit side of cash book is ___ than the credit side.