Petty cashbook and the imprest system - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 6:

• JAMB 2001

In a petty cash book, the closing balance was N235, imprest N1,250, while the stationery expenses were N655. How much was paid for other general expenses?

A. N360
B. N355
C. N350
D. N305

Question 7:

• JAMB 2002

In a petty cash book the imprest is N1380.
Expenses:
Stationery N350
Cleaning material N335
General expenses N265
How much was received to maintain the imprest at the ends of the month?

A. N950
B. N970
C. N430
D. N380

Question 8:

• JAMB 2004

The imprest account is subsidiary to the?

A. Ledger account
B. Bank account
C. Cash book
D. Bank column

Question 9:

• JAMB 2005

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?

A. N150
B. N250
C. N350
D. N500

Question 10:

• JAMB 2005

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

A. N50
B. N200
C. N300
D. N450