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WAEC Accounting 2014 Paper
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Question : 23
Total: 45
A petty cash account has an imprest of D28,000. The account has a debit balance of D5,000. How much cash is needed to restore the imprest?
D33,000
D28,000
D23,000
D5,000
Validate
Solution:
The petty cash monthly imprest= 28,000
Debit balance (amount left in the imprest) = 5,000
28,000 - 5,000 = 23,000
we need 23,000 to reimburse the imprest
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