Question

As a manager employed by Black Ltd one of your functions is to have control over petty cash. From the following information for a small business you are required to:

1. Complete the petty cash vouchers below

b)      The Petty Cash book

May1               The petty cashier received a cheque for $300 as the initial petty cash imprest.

During the following week you as the petty cashier paid the following amounts:

May 2              Ross Carr for tea, coffee and biscuits                         $17.60

Lee Way for bus fares                                                $11

May 3              Mike Street for postage stamps                                  $33

John Lane for pens, pencils, etc.                                $22

May 6              Ross Carr for the previous weeks milk account           $13.20

Fred Wheeler for taxi fare                                          $66

May 7              Mary Driver for reception flowers                             $55

Mike Street for a large envelopes                               $19.80

May 8              Mike Street for airmail postage on parcel              $15.40

Ross Carr for office cleaning materials                        $19.80

May 9              The petty cashier requested and received a reimbursement cheque for the amount paid out.

Answer 1

* petty cash book is defined as relatively small amount of cash kept at hand

*A Petty Cash withdrawal request must be prepared for each reimbursement requested.

* Petty Cash Voucher. A petty cash voucher is an important internal control document to trace the use of cash within a petty cash fund.

Summary of petty cash vouchers
Tea, Coffee, Biscuits	17.6
Bus fare	11
Postage stamps	33
Stationery	22
Milk	13.2
Taxi fare	66
Reception flowers	55
Large envelope	19.8
Postal	15.4
Office cleaning material	19.8
Total	272.8

Petty cash book
Cash received	Date	Particulars	Total payments
300	1-May
	2-May	Tea,Coffee,Biscuits	$            17.60
	2-May	Bus fare	$            11.00
	3-May	Postage stamps	$            33.00
	3-May	Stationery	$            22.00
	6-May	Milk	$            13.20
	6-May	Taxi fare	$            66.00
	7-May	Receiption flowers	$            55.00
	7-May	Large envelope	$            19.80
	8-May	Postage expenses	$            15.40
	8-May	Office cleaning material	$            19.80
	9-May	C/D	$           27.20
300			$           300.00

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