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Five hundred naria monthly is allowed on an imprest system. The following transa...


Question

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

Period 1:
Cash advanced to petty cashier₦500
Petty cashier paid out: stamp₦200
Newspaper₦250
Period 2:
Cash to petty cashier₦450
Cashier paid for writing materials₦350

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

Options

A)
₦50
B)
₦200
C)
₦300
D)
₦450

The correct answer is A.


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