Guess1
What is the main purpose of a petty cashbook ?
To record and control small day-to-day expenses.
What is a voucher and why is it important?
A voucher is proof of payment; it ensures accuracy and accountability.
Who usually manages the petty cashbook?
The Petty cashier.
True or False: Petty Cashbook transactions are recorded daily.
True: Petty Cashbook transactions should be recorded daily.
True or False : Petty Cashbooks can be used for a large purchases.
False: Petty Cashbook are not used for larger purchases.
Sept 2-Stacey spent $5.00 on lunch, which column would this be recorded under?
Food Expense
Sept 2-Stacey paid $2.50 towards class fees, which column recorded this?
Home-Room Fees.
Sept 3- If Stacey paid rags for $2.00, which column should that be recorded in?
Rags Fee Expense
What is a float in the petty cash system?
A float is the fixed amount of money placed in the petty cash fund at the start.
Sept 5-Stacey went to pay a $10.00 raffle at accounts , which column is it ?
Other Expense Column.
Name 1 disadvantage of using a Petty Cashbook.
Risk of misuse or theft/limited for small payments only.
Sept 4- She spent 2.00 on class collection, which column was it written in?
Home-Room Fees column
True or False: Petty Cashbook can be used for both business and personal expenses.
False: Petty Cashbook is mainly for business/school small expenses, not both personal and business.
What is one key duty for the petty cashier?
To record , safeguard and disburse petty cash according to rules.
Sept 2-Stacey bought a pen for $1.50,which column is the transaction recorded in?
Other Expense.
Sept. 1- If Stacey had $60 for the week and she buys breakfast for $3.00,which column does it belong in?
Food Expense column
If Stacey paid $2.00 for homeroom dues on Sept.1 and $3.00 on Sept 3 what is the total altogether?
$7.50
If Stacey paid for her friend and her on rags (each $2.00) what would be be total ?
$4.00
If Stacey only bought sodas (2.50 each)on Sept 2 and 4 , what is the total in the column?
The total would be $5.00 in the Drinks Expense.
Stacey paid $4.00 for printing on Sept 5 , which column is used?
Other Expenses.
If Stacey spent an additional $3.50 on breakfast on Sept 4 and and $5.00 on Sept 5, what is the total for food expense column altogether?
$16.50
What principle does a petty cashbook operate on to control spending?
The imprest system.
Stationery , Sundry, General, Cleaning etc.
Stacey spent $1.50 on a soda and $2.00 on water Sept 3, what is the total in general?
$8.50
What type of entries are usually recorded in a petty cashbook?
Small Cash payments such as food, fare, transportation etc.