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MEHTA INSTITUTE – CHIRAG SIR

IGCSE-WORKBOOK – PETTY CASH BOOK

Petty Cash Book

1. Simone keeps her petty cash on the imprest system with an imprest of $120. On 30 April
she had vouchers in the petty cash box for expenses of $87.60.
(i) What was the amount of petty cash remaining at 30 April?

………………………………………………………………………………………………………

………………………………………………………………………………………………………

(ii) How much cash was required to restore the imprest at 1 May?

………………………………………………………………………………………………………

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2. Tamara keeps her petty cash on the imprest system with an imprest of $150. She paid
expenses in the month of October of $80.50.

(i) What was the amount of petty cash remaining at 31 October?

………………………………………………………………………………………………………

(ii) How much cash was transferred to restore the imprest at 1 November?

………………………………………………………………………………………………………

3. Theba maintains a petty cash book using the imprest system.

(a) State one reason why Theba maintains a petty cash book in addition to her main
cash book.

………………………………………………………………………………………………………

………………………………………………………………………………………………………

(b) Explain what is meant by the imprest system of petty cash.

………………………………………………………………………………………………………

………………………………………………………………………………………………………

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

Theba’s imprest amount is $200.

On 1 April 2012 she had $97 in the petty cash box. On the same day she made a transfer
from the business bank account to restore the petty cash to the imprest amount.

On 30 April 2012 Theba had the following petty cash vouchers.

$
April 4 Postage stamps 24
12 Stationery 36
17 Fuel for motor vehicle 38
21 Refund from stationery supplier 4
24 Catering supplies 12
29 Cleaning 70

(c) Prepare Theba’s petty cash book for the month of April 2012.
Balance the book on 30 April 2012 and carry down the balance.
Make the entry on 1 May 2012 to restore the petty cash to the imprest amount.

Theba – Petty Cash Book

Total Date Details Total Post Motor Catering cleanin


Received Paid age & expenses supplies g
stationar
ies
$ $ $ $ $ $

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

(d) From the entries in the petty cash book, record the transactions for the month in

Theba’s ledger.
Postage and Stationery account

………………………………………………………………………………………………………

………………………………………………………………………………………………………

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Motor expenses account

………………………………………………………………………………………………………

………………………………………………………………………………………………………

………………………………………………………………………………………………………

Catering supplies account

………………………………………………………………………………………………………

………………………………………………………………………………………………………

………………………………………………………………………………………………………

Cleaning account

………………………………………………………………………………………………………

………………………………………………………………………………………………………

………………………………………………………………………………………………………

(e) State the amount of petty cash which would be included in Theba’s balance sheet
prepared on 30 April 2012.

………………………………………………………………………………………………………

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

4. Saira Rehman maintains a petty cash book using the imprest system. Her imprest amount
is $200.

On 1 October 2013 she had $56 in the petty cash box.

Saira Rehman’s transactions for the month of October 2013 were as follows:
$
October 1 Restored petty cash to imprest amount ?
4 Bought stamps and stationery 19
10 Received cash from employee for personal postage costs 3
14 Paid Abdul Shakeel, a credit supplier 34
18 Bought tea and coffee 9
23 Paid Syed Arshad, a credit supplier 16
28 Paid cleaners 80

(a) Enter the above transactions in Saira Rehman’s petty cash book .

Balance the petty cash book at 31 October 2013 and carry down the balance.

Make the entry on 1 November 2013 to restore the petty cash to the imprest amount.

Total Date Details Total Postage Catering Cleaning Ledger


Received Paid & supplies accounts
stationery
$ $ $ $ $ $

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

(b) State where the double entry would be completed for the items recorded in the ledger
account column of Saira Rehman’s petty cash book.

………………………………………………………………………………………………………

………………………………………………………………………………………………………

………………………………………………………………………………………………………

(c) State where the double entry would be completed for the transaction on 10 October.
Saira Rehman – Petty Cash Book

………………………………………………………………………………………………………

………………………………………………………………………………………………………

5. Loretti started a business on 1 April 2006. On that day he introduced the following
into the business:
Stock $12 000, office furniture $1500, and cash $2500, of which $200 was kept on hand
for petty cash and the balance, $2300, was paid into a business bank account.
On the same day his cousin Hassan paid $3000 into the business bank account as a loan
to the business.

(a) Show the opening journal entry to record these transactions. A narrative is not
required.
Loretti
Journal

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

Loretti decided to keep his petty cash book on the imprest system. In the month of April
2006 he paid the following expenses from his cash balance.

$
3 April Stationery 35
8 April Refreshments 40
13 April Cleaning 50
20 April Travelling 20

On 1 May he withdrew the appropriate amount from the bank to restore the imprest
amount.

(b) Write up Loretti’s petty cash book, on the page opposite, for the month of April and
show the amount transferred from the bank on 1 May.

Loretti – Petty Cash Book

Total Date Details Total


Received Paid
$ $ $ $ $

6. Frank maintains his petty cash on the imprest system. He keeps a balance of $200. At
the end of April the balance in hand is $65 and there are vouchers for expenditure of
$125.

(i) How much will Frank draw from the bank to restore his petty cash balance?

………………………………………………………………………………………………………

(ii) Suggest one reason for the difference in the petty cash balance.

………………………………………………………………………………………………………

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

7. Philo is in business and keeps his petty cash on the imprest system with a balance of
$200.

On 31 March 2009 there was $129.00 in the petty cash box and on 1 April 2009 Philo’s
cashier made a transfer from the business bank account to restore the imprest balance.
All the petty cash vouchers for March related to expenses incurred in that month.

(a) What were the total expenses paid from petty cash in the month of March 2009?

………………………………………………………………………………………………………

………………………………………………………………………………………………………

When the cash was counted on 30 April 2009, there was $117.50 in the petty cash box
and the following petty cash vouchers were found.
$
April 5 Postage stamps 20.00
10 Refreshments 17.00
13 Menon – loan 100.00
17 Flowers for office 21.00
24 Stationery 14.50

Menon had repaid his loan in cash on 29 April.

(b) What were the total expenses paid from petty cash in the month of April 2009?

………………………………………………………………………………………………………

………………………………………………………………………………………………………

(c) Calculate the amount of cash which should be in the petty cash box on 30 April.

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(d) Suggest two reasons for the difference in the actual amount of cash in the petty
cash box and the amount which should be there.

(i) ........................................................................................................................................

............................................................................................................................................

(ii) .......................................................................................................................................

............................................................................................................................................

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

The petty cashier remembered a further petty cash payment of $10.00 was made on 28
April for cleaning the office windows.

(e) Advise Philo’s petty cashier about the importance of keeping a record of business
expenditure.

………………………………………………………………………………………………………

………………………………………………………………………………………………………

(f) Make the necessary entries for the month of April in the petty cash book

Balance the book and carry down the balance. Show the entry on 1 May to restore the
imprest balance to the correct amount.

Total Date Details Total Postag Refres Flow Cleani other


Recei e & stat hments ers ng
Paid
ved ionary
$ $ $ $ $ $

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

8. Sara Iqbal is a trader. Her financial year ends on 31 January.


Sara Iqbal maintains a petty cash book using the imprest system. The monthly imprest of
$100 is restored on the first day of each month.

The entries in Sara Iqbal’s petty cash book for February 2010 were as follows.

Sara Iqbal
Petty Cash Book
Total Date Details Total Office Trave- Clean- Ledger
Received Paid Exp lling ing A/cs
-enses
$ 2010 $ $ $ $ $
100 Feb 1 Balance b/d
5 Taxi fare 9 9
12 Stationery 13 13
16 N Jones 21 21
18 Train fare 2 2
21 Cleaning 25 25
26 W Smith 18 18

(a) State two reasons why Sara Iqbal maintains a petty cash book.

1 ......................................................................................................................................

..........................................................................................................................................

2 ......................................................................................................................................

.........................................................................................................................................

(b) Explain what is meant by the imprest system in relation to petty cash books.

..........................................................................................................................................

..........................................................................................................................................

..........................................................................................................................................

(c) State one advantage of the imprest system.

..........................................................................................................................................

..........................................................................................................................................

(d) Calculate how much the petty cashier will receive on 1 March to restore the imprest.

............................................................................................................................................

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

(e) (i) State how the double entry is completed on 28 February for the items recorded in
the travelling expenses column of the petty cash book.

............................................................................................................................................

............................................................................................................................................

(ii) State how the double entry is completed on 28 February for the items recorded in the
ledger accounts column of the petty cash book.

............................................................................................................................................

............................................................................................................................................

............................................................................................................................................

............................................................................................................................................

9. Annie Rongsen maintains both a three column cash book and a petty cash book. She
maintains the petty cash book on the imprest system with an imprest amount of $90. She
supplied the following information for the month ending 31 March 2013.
$
March 1 Petty cash balance 23
Petty cash restored to imprest amount ?
4 Paid postage 19
8 Paid taxi fares 16
13 An employee returned a loan paid out of petty cash in February 20
19 Paid parcel post 4
23 Paid R Singh, a credit supplier 24
29 Paid window cleaner 12

(a) State two reasons for maintaining a petty cash book in addition to a main cash book.

1. ......................................................................................................................................

2. ......................................................................................................................................

(b) State one advantage of using the imprest system of petty cash.

………………………………………………………………………………………………………

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

(c) Enter the above transactions in Annie Rongsen’s petty cash book.
Balance the book on 31 March 2013 and carry down the balance.
Make the entry on 1 April 2013 to restore the petty cash to the imprest amount

Total Date Details Total Postage Travel Sundries Ledger


Received Paid A/cs
$ $ $ $ $ $

(d) Explain how the double entry will be completed for the items shown in the postage
column of the petty cash book.

………………………………………………………………………………………………………

………………………………………………………………………………………………………

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

10. John Paihia, a trader, maintains a petty cash book using the imprest system.

(a) Explain what is meant by the imprest system in relation to petty cash books.

………………………………………………………………………………………………………

………………………………………………………………………………………………………

John Paihia’s imprest amount is $300. His transactions for the month of September 2007
were as follows:
$
Sept 1 Balance brought down 48
1 Petty cash restored to imprest amount ?
6 Bought postage stamps 15
11 Paid to Paul Ahipara, a creditor 95
19 Paid cleaner 24
23 Paid travelling expenses 9
25 Bought office stationery 72
29 Received cash refund from stationery
supplier for overcharge 6

(b) Enter the above transactions in John Paihia’s petty cash book .
Balance the book on 30 September 2007 and carry down the balance.
Make the entry on 1 October 2007 to restore the petty cash to the imprest amount.
John Paihia – Petty Cash Book

Total Date Details Total Postag Travelli Cleani Ledger


Receiv Paid es & ng ng A/cs
ed station expens
ery es
$ $ $ $ $ $

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

(c) Explain to John Paihia how the double entry is completed for the items recorded in
the analysis columns of the petty cash book.

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11. (0452/23/O/N/14) Peter Pickard maintains a petty cash book. The monthly imprest of
$250 is restored on the last day of the month.

(a) State two reasons for maintaining a petty cash book.


1.………………………………………………………………………………………………

…………………………………………………………………………………………………

2…………………………………………………………………………………………………

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(b) Explain the imprest system of petty cash.


.………………………………………………………………………………………………

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(c) State one advantage of the imprest system of petty cash.


.………………………………………………………………………………………………

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The entries in Peter Pickard’s petty cash book for August 2014 were as follows.
Peter Pickard
Petty Cash Book
Total Date Details Total Postage Cleaning Sundries Ledger
Received Paid A/cs
$ 2014 $ $ $ $ $
250 Aug 1 Balance b/d
4 Window cleaner 25 25
10 Stamps 30 30
16 B Smith 36 36
21 Donation to charity 15 15
29 Office cleaner 83 83
31 W Jones 18 18

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

(d) Calculate how much the petty cashier will receive on 31 August 2014 to restore the
imprest.
.………………………………………………………………………………………………

…………………………………………………………………………………………………

(e) Complete the following table to show the double entry to restore the imprest on
31 August 2014.

Debit Credit

(f) State how the double entry is completed on 31 August 2014 for the items recorded in
the cleaning column of the petty cash book.
.………………………………………………………………………………………………

…………………………………………………………………………………………………

(g) State how the double entry is completed on 31 August 2014 for the items recorded
in the ledger accounts column of the petty cash book.
.………………………………………………………………………………………………

…………………………………………………………………………………………………

…………………………………………………………………………………………………

Additional Information

Peter Pickard’s transactions for August 2014 included the following.

Aug 5 Sold goods on credit to S Bower, list price $1480, less 20% trade discount
13 Sold goods on credit to C Brooke, list price $1340, less 15% trade discount
19 S Bower returned goods, list price $160, purchased on 5 August

(h) Make the necessary entries in Peter Pickard’s sales journal, sales returns journal,
sales ledger and nominal (general) ledger for the month of August 2014.

It is not necessary to balance the accounts.

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

Peter Pickard
Sales Journal

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Sales Returns Journal


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.………………………………………………………………………………………………

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Sales Ledger
S Bower account

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.………………………………………………………………………………………………

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C Brooke account

.………………………………………………………………………………………………

…………………………………………………………………………………………………

…………………………………………………………………………………………………

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

Nominal (General) Ledger


Sales account

.………………………………………………………………………………………………

…………………………………………………………………………………………………

…………………………………………………………………………………………………

Sales Returns account

.………………………………………………………………………………………………

…………………………………………………………………………………………………

…………………………………………………………………………………………………

Additional Information

Peter Pickard sells on both cash and credit terms. He allows his credit customers a
period of 30 days in which to pay their accounts.

The sales for the year ended 31 August 2014 were:


$
Cash sales 4 100
Credit sales 29 600

On 31 August 2014 the trade receivables amounted to $2340.

(i) Calculate the collection period for trade receivables.

.………………………………………………………………………………………………

…………………………………………………………………………………………………

…………………………………………………………………………………………………

.………………………………………………………………………………………………

(j) State whether Peter Pickard would be satisfied with the collection period for trade
receivables.

.………………………………………………………………………………………………

(k) Explain how Peter Pickard’s payment period for trade payables may be affected by
the collection period for trade receivables.

.………………………………………………………………………………………………

…………………………………………………………………………………………………

16
MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

12. (0452/21/M/J/15) Kuda Maposa maintains a petty cash book using the imprest system.

(a) State one advantage of the imprest system of petty cash


.………………………………………………………………………………………………

…………………………………………………………………………………………………

…………………………………………………………………………………………………

On 1 March 2015 the balance of Kuda Maposa’s petty cash book was $100 which was
equal to the amount of the imprest.
Her transactions for the month of March 2015 were as follows.
$
March 6 Paid for postage costs 13
11 Bought tea and coffee 5
14 Purchased stationery 27
18 Paid T Masuka, a credit supplier 15
21 Received refund for damaged stationery 10
26 Paid window cleaner 12
29 Paid P Zhonga, a credit supplier 16

(b) Enter these transactions in Kuda Maposa’s petty cash book.


Balance the petty cash book and bring down the balance on 1 April 2015
Kuda Maposa
petty cash book
Total Date Details Total Postag Station General Ledger
Received Paid e ery Expense A/cs
s
$ $ $ $ $ $

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

(c) (i) State the amount required to restore the imprest on 1 April 2015.
…………………………………………………………………………………………………
(ii) Name the account which would be credited with this amount.
…………………………………………………………………………………………………
(d) Name the ledger account in which the transaction of 21 March would be recorded.
…………………………………………………………………………………………………
Kuda Maposa had the following transactions on 31 March 2015.

1 Took goods costing $300 for personal use.


2 Purchased a motor vehicle, $12 000, for business use, using a cheque drawn on her
personal bank account.
3 Received an invoice from Valley Machines for $990. This included $865 for a new
machine.

The balance was for repairs to existing machine.

(e) Prepare journal entries to record the above transactions. Narratives are required.
Kuda Maposa
Journal
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18
MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

13. (0452/22/F/M/16) Abhinav maintains a petty cash book using the imprest system. The
imprest amount of $120 is restored on the first day of each month.

The petty cashier entered the transactions in the petty cash book for the first week of
February 2016 in the total column of the petty cash book as shown on the opposite
page. He was then taken ill and was away from the office for the rest of the month.

The following transactions took place.


$
February 10 Received refund from stationery supplier for
overcharge on 7 February 4.00
13 Paid train fare 9.50
15 Paid Office Supply Limited, a credit supplier 29.00
21 Paid taxi fare 9.90
26 Paid window cleaner 17.00
(a) Complete the entries for the transactions on 4 February and 7 February in
Abhinav’s petty cash book on the page opposite.
Enter the transactions for 10 February to 26 February in the petty cash book.
Balance the petty cash book on 29 February and bring down the balance on 1 March
2016.
Total Date Details Total Postag Travelli Cleani Ledger
Receiv Paid es & ng ng A/cs
ed station expens
ery es
$ 2016 $ $ $ $ $

24 Feb 1 Balance b/d


96 Feb 1 Bank
4 Stamps 14
7 Copy paper and 33
cartridges

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

(b) (i) State the amount which would have been received on 1 March 2016 when the
petty cash was restored to the imprest amount.

.......................................................................................................................................

(ii) State the double entry for restoring to the imprest amount.

debit credit

........................................................... ............................................................

(c) Show the entries which would be made in the postage and stationery account in
February 2016. It is not necessary to close the account.

Abhinav
Postage and stationery account
.………………………………………………………………………………………………

…………………………………………………………………………………………………

…………………………………………………………………………………………………

.………………………………………………………………………………………………

…………………………………………………………………………………………………

(d) Name the accounting principles which Abhinav ignored in each of the following.

(i) Abhinav decided that the profit would increase if he changed the method of
depreciation on fixtures from the straight line method to the reducing (diminishing)
balance method.

.......................................................................................................................................

(ii) Abhinav decided that the retirement of the manager would adversely affect the
business, so he reduced the profit for the year by $5000.

.......................................................................................................................................

(iii) Abhinav recorded a sale of goods to Wahid who had seen goods on display in the
shop window and promised to return the following week with the cash.

.......................................................................................................................................

(iv) Abhinav intends to trade for several years but decided to record his motor vehicle at
the possible sale value rather than the book value.

.......................................................................................................................................

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

14. (0452/22/M/J/16) Carol is a trader. She maintains a three column cash book and also a
petty cash book. The imprest amount is $100. All payments below $50 are made from
petty cash.

Carol had the following transactions during April 2016.

April 1 Petty cash imprest restored from the business bank account.
4 Purchased tea and coffee for office staff, $11.
9 Paid K Mzolo’s account of $450, by cheque, after deducting a cash discount of
2%.
16 Bought stationery, $25.
19 Paid taxi fare, $8.
20 Received a cheque from B Mamba in settlement of his account of $920, less
2½% cash discount.
23 Paid T Nhete, a credit supplier, $38.
28 Cash sales, $2970.
29 Paid all the cash in the main cash account, except $100, into the bank account.

Record the above transactions in the following books


(i) Petty cash book
(ii) Three column cash book
Balance each book and bring down the balances on 1 May 2016.

Carol
Petty Cash Book

Total Date Details Total Postag General Ledger


Receiv Paid e& exp A/cs
ed station
ery
$ 2016 $ $ $ $

23 April 1 Balance b/d

21
MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

Carol
Cash Book
Date Details Dis Cash Bank Date Details Dis Cash Bank
(Receipts) All $ $ (Payments) Rec $ $
$ $
2016 2016
April 1 Balance b/d 210 April 1 Balance b/d 1437

15. (0452/11/M/J/18) Amira owns an advertising agency. Her financial year ends on 30
April.
On 1 April 2018 she decided to use a petty cash book with a monthly imprest of $80
which would be restored on the first day of each month.

(a) State one reason for using a petty cash book.

.………………………………………………………………………………………………

…………………………………………………………………………………………………

(b) State one advantage of the imprest system of petty cash.

.………………………………………………………………………………………………

…………………………………………………………………………………………………

On 1 April 2018 Amira put $80 cash in the petty cash box.
Her transactions for the month of April 2018 were as follows.
$
April 4 Bought stamps 3
7 Purchased printing paper 8
11 Purchased ink cartridges 12
19 Paid window cleaner 10
22 Paid KK Limited, a trade payable 35
29 Purchased flowers for reception desk 7

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MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

(c) Enter these transactions in Amira’s petty cash book on the page opposite.
Balance the petty cash book and bring down the balance on 1 May 2018.

Total Date Details Total Posta Comput General Ledger


Received Paid ge er expens A/cs
supplies es
$ 2018 $ $ $ $ $

80 April Cash
1

(d) Complete the following table to show the double entry to restore the petty cash
imprest on 1 May 2018

Debit $ Credit $

(e) Show the entry which would be made in the computer supplies account in April
2018. It is not necessary to close or balance the account.
Amira
Computer supplies account

.………………………………………………………………………………………………

…………………………………………………………………………………………………

…………………………………………………………………………………………………

.………………………………………………………………………………………………

23
MEHTA INSTITUTE – CHIRAG SIR
IGCSE-WORKBOOK – PETTY CASH BOOK

16. (0452/23/O/N/18) Sara maintains a petty cash book. The monthly imprest of $120 is
restored on the first day of each month.

The entries in Sara’s petty cash book for July 2018 were as follows.

Total Date Details Total Cleani Posta Sundri Ledger


Received Paid ng ges es A/cs

$ 2018 $ $ $ $ $
42 July 1 Balance b/d
78 Cash
4 Stamps 4 4
13 Parcel post 25 25
19 Cleaning materials 55 55
23 Sabeena (credit 19 19
supplier)
29 Sundry expenses 6 6
5 30 Refund for faulty
cleaning materials

(a) Show the entries which would be made in the cleaning account in July 2018. It is
not necessary to close or balance the account.

Sara
Cleaning account

.………………………………………………………………………………………………

…………………………………………………………………………………………………

…………………………………………………………………………………………………

.………………………………………………………………………………………………

(b) State how the double entry is completed for the item recorded in the ledger accounts
column of the petty cash book.

.………………………………………………………………………………………………

…………………………………………………………………………………………………

(c) State the double entry for restoring the imprest on 1 August 2018.

Debit $ Credit $

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