Question

The petty cash box contains vouchers for payments of $235, vouchers for receipts of cash of $35 and ious of $75. if the imprest is $750, how much money should the petty cash box contain?

Answer 1

Answer: 405 dollars

Explanation:

Total vouchers for payments = $235 Total vouchers for receipts of cash = $35 Total IOUs = $75

Therefore, the total amount of vouchers and IOUs is calculated as follows:

Total amount = Total vouchers for payments + Total vouchers for receipts of cash + Total IOUs = $235 + $35 + $75 = $345

To maintain an imprest of $750, we subtract the total amount from the imprest:

Amount needed in petty cash box = Imprest - Total amount = $750 - $345 = $405

Therefore, the petty cash box should contain $405.