The imprest of a petty cashier is N2450

Expenses on Printing 420

Cleaning 250

Stamp and postage 175

How much was received to maintain the imprest at the end of the month?

  • A N1, 605
  • B N875
  • C N2, 450
  • D N1, 300
jamb 2015accounting

The correct answer is B. N875

The imprest system is a form of financial accounting system. The most common imprest system is the petty cash system. The base characteristic of an imprest system is that a fixed amount is reserved, which after a certain period of time or when circumstances require, because money was spent, it will be replenished.

450 + 250 +175 = 875

the imprest will be reimbursed with the amount that was spent which is 875

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