A petty cash account has an imprest of GH¢ 6,000. If GH¢ 2,000 were left, how much will be re-imbursed at the end of the period?

  • A GH¢ 8,000
  • B GH¢ 6,000
  • C GH¢ 4,000
  • D GH¢ 2,000
waec 2016accounting

The correct answer is C. GH¢ 4,000

An imprest is a fund used by a business for small items of expenditure and restored to a fixed amount periodically.

A reimbursement is a repayment for money you've already spent.

The petty cashier imprest is a fixed amount of GH¢6,000

At the end of the month GH¢2,000 left

The imprest will be reimbursted with GH¢4,000

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