Taiwo is a sole trader who keeps his petty cash on the im...
Use the following information to answer the given question
Taiwo is a sole trader who keeps his petty cash on the imprest system, the imprest amount being N4,000. The following transactions took place for a particular month: \(\begin{array}{c|c} & & & N \\ \hline Dec. & 1 & \text{petty cash in hand} & 517 \\ & 1 & \text{petty cash to imprest amount} & 3,483 \\ & 6 & \text{Bought notebooks} & 328\\ & 7 & \text{Paid wages} & 914\\ & 14 & \text{Bought postage stamps} & 375 \\ & 16 & \text{Paid to J. Thomas, a creditor} & 536 \\ & 21 & \text{Paid wages} & 928 \\ & 23 & \text{Bought envelopes} & 437 \\ & 27 & \text{Bought postage stamps} & 210\end{array}\)
Amount to be reimbursed at the end of the month is
N4,000
N3,728
N3,483
N1,842
Correct answer is B
No explanation has been provided for this answer.
The amount by which assets exceed specific liabilities is called ...
The accountant general disburses government fund by the use of ...
Which of the following is a source of revenue to a local government authority? ...
Provision for discount on debtor on debtors is to be ...
The major function of accounting bodies in Nigeria is to? ...
Which of the following is both a subsidiary book and a ledger? ...