FINANCIAL ACC 101

ANOTHER PETTY CASHBOOK ILLUSTRATION

Hey Everyone, Hope the week is going well? It Is Well with You in Jesus Name- Amen. Today we are continuing from where we stopped last week. Let's get started....

ILLUSTRATION 2:

The Following is a summary of the Petty Cash Transactions of Mr. Shola Ltd for October 1990.

Oct 1- Received from Cashier N1600

Oct 2- Petrol N70

Oct 3- Postages N90

Oct 4- Travelling N60

Oct 5- Postages N25

Oct 6- Petrol N110      

Oct 7- Travelling N85

Oct 8- Cleaning N90

Oct 9- Stationery N45

Oct 10- Postage N65

Oct 11- Cleaning N165

Oct 12- Petrol N90

Oct 13- Postages N25

Oct 14- Motor Expenses N215

Oct 15- Cleaning N105

Oct 16- Travelling N45

Oct 17- Stationery N95

Oct 18- Cleaning N65

Oct 19- Ayo Tunde N75

You are required to:

* Rule up a suitable petty cashbook

* Post the entries into Ledger account

SOLUTION:

DR                           Petty Cash Book                                                                                            CR
Receipt	F	Date	Details	Total	Cleaning	Motor Expenses	Postage	Stationery	Travelling	Ledger Ac
1, 600		1-Oct	Bal b/d
		2-Oct	Petrol	70		70
		3-Oct	Postage	90			90
		4-Oct	Travelling	60					60
		5-Oct	Postage	25			25
		6-Oct	Petrol	110		110
		7-Oct	Travelling	85					85
		8-Oct	Cleaning	90	90
		9-Oct	Stationery	45				45
		10-Oct	Postage	65			65
		11-Oct	Cleaning	165	165
		12-Oct	Petrol	90		90
		13-Oct	Postage	25			25
		14-Oct	Motor Exp.	215		215
		15-Oct	Cleaning	105	105
		16-Oct	Travelling	45					45
		17-Oct	Stationery	95				95
		18-Oct	Cleaning	65	65
		19-Oct	Ayotunde	75						75
				1, 520	425	485	205	140	190	75
1, 520		31-Aug	Cash
		31-Oct	Bal c/d	1, 600
3, 120				3, 120
1, 600		1-Nov	Bal b/d

LEDGER ENTRIES: 

DR                  Cash Book A/c                                      CR
			1-Oct	Petty Cash	1, 600
			31-Oct	Petty Cash	1, 520

DR                     Cleaning A/c                                   CR
31-Oct	Petty Cash	425

DR                Motor Expenses A/c                                 CR
31-Oct	Petty Cash	485

DR                     Postages A/c                                      CR
31-Oct	Petty Cash	205

DR                      Stationery A/c                                   CR
31-Oct	Petty Cash	140

DR                             Travellers A/c                            CR
31-Oct	Petty Cash	190

DR                       Ayotunde A/c                                 CR
31-Oct	Petty Cash	75	31-Oct	Bal b/f	75

This brings us to the end of today's session. Hope this was very helpful to you, leave a comment of what you think of this tutorial and of your questions below. Have a Blessed Day and Remember You are Amazing. God Bless.