Accounts (Principles of Accounts)Petty cash and the imprest systemJAMB
A petty cash float of ₦15,000 is kept on the imprest system. During the month ₦3,200 was spent on postage, ₦4,800 on transport and ₦2,500 on cleaning. The reimbursement at the end of the month is
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Answer: C. ₦10,500
The petty cashier is reimbursed what was spent: 3,200 + 4,800 + 2,500 = ₦10,500.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.