JAMB Accounting Past Questions & Answers - Page 198

Five hundred naira monthly is allowed on an imprest system. The following transactions took place.

Period1:
Cash advanced to petty cashier......N500
Petty cashier paid out: stamp.......N200
Newspaper...........................N250

Period 2:
Cash to petty cashier...............N450
Cashier paid for writing materials..N350

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

Five hundred naria monthly is allowed on an imprest system. The following transactions took place.

Period1:
Cash advanced to petty cashier......N500
Petty cashier paid out: stamp.......N200
Newspaper.....................N250

Period 2:
Cash to petty cashier...............N450
Cashier paid for writing materials..N350

How much should the petty cashier receive after period 2?

Yahya's bank account shows a credit balance of N1500,000. He paid N1700,000 into the bank.
What is his expected balance?

Mr Bassey purchased a motor vehicle for use in his business and debited the purchases account with the same value. This is an error of?

What are the appropriate recording procedures for entries in the trial balance?