Gce Model Questions Vol1 2020 Financial Accounting Question 35
Practice objective / multiple choice question 35 from the 2020 Gce Model Questions Vol1 Financial Accounting examination.
A petty cash fund of \(₦5,000\) is maintained. During the month the following receipts were recorded: office supplies \(₦1,200\), postage \(₦800\), and travel expenses \(₦1,200\). At the end of the month the cash remaining in the petty cash box is \(₦1,600\). Determine whether there is a shortage or surplus and state the amount that must be reimbursed to restore the fund to its original balance.
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About This Question
This is Gce Model Questions Vol1 2020 Financial Accounting Question 35. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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