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.
HOMEWORK
REQUIRED
(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
10
13
17
24
Postage stamps
Refreshments
Menon - loan
Flowers for office
Stationery
$
20.00
17.00
100.00
21.00
14.50
Menon had repaid his loan in cash on 29 April.
REQUIRED
(b) What were the total expenses paid from petty cash in the month of April 2009?
POSES
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(c) Calculate the amount of cash which should be in the petty cash box on 30 April.
(f) Make the necessary entries for the month of
(d) Suggest two reasons for the difference in the actual amount of cash in the petty cash April in the petty cash book. The book should
box and the amount which should be there.
have five analysis columns- postages and
The petty cashier remembered a further petty cash payment of $10.00 was made on
stationery, refreshments, flowers, cleaning,
28 April for cleaning the office windows.
and other payments.
REQUIRED
(e) Advise Philo's petty cashier about the importance of keeping a record of business
expenditure.