Below is a till receipt. Sales tax is set at 20%:
Price's Stationers
15 Reams A4 paper $17.80
200 Envelopes $5.00
Total $22.80
Received with thanks 30/5/X7
Sales tax registration: 72 38 237 840
Task: Complete the petty cash voucher
Petty Cash Voucher
No. ______
Date ______
For what required ______________
AMOUNT $ ______
Supporting documentation ______________
Signature ______________
Authorised ______________
The petty cash system of HHG is operated on an imprest system, and the imprest amount is $100. The petty cash float is topped up every week.
At the end of one particular week, there are petty cash vouchers in the tin for $4.67, $12.90, $2.99, $5.06 and $16.25.
How much cash should be withdrawn from the bank to restore the petty cash float to $100?
On 1 May 20X3 a business established a $100 float (the imprest amount) for the first time. During the week ended 8 May the following petty cash vouchers were stored with the petty cash log or book when the claims were paid:
Petty Cash Voucher No. 832
Date: 1 May X3
For what required: Printing letterheads (including 20% VAT)
Amount: $31.50
Signature: S Gordon
Authorised: P Cash
Petty Cash Voucher No. 833
Date: 1 May X3
For what required: Taxi (no VAT invoice)
Amount: $7.40
Signature: A McDougall
Authorised: J Falk
Petty Cash Voucher No. 834
Date: 3 May X3
For what required: Tea, coffee
Amount: $8.23
Signature: SP Oak
Authorised: P Cash
Petty Cash Voucher No. 835
Date: 4 May X3
For what required: Stationery (including 20% VAT)
Amount: $12.49
Signature: J Wilson
Record the following transactions in the petty cash log or book and post the month end totals into the general ledger. The balance brought down on the petty cash account on 1 September 20X4 is the imprest amount of $50.
| Date | Transaction |
|---|---|
| 2nd | Coffee purchased for $1.89 (no sales tax) |
| 4th | Repair to light switch $12.00 ($2.00 sales tax) |
| 10th | Taxi fare $5 (no sales tax) |
| 15th | Pay cleaner $15 (no sales tax) |
| 25th | Repairs $5.88 ($0.98 sales tax) |
The imprest float was restored on 30 September.
A petty cash system is operated with an imprest amount of $200. Each Friday, just before the petty cash float is topped up to $200, the amount of cash is counted and the vouchers supporting payments made in the week are totalled. On this particular Friday the cash in the petty cash float consisted of the following:
| Quantity | Item |
|---|---|
| 4 | $20 notes |
| 2 | $10 notes |
| 2 | $5 notes |
| 5 | $1 coins |
| 7 | 50c coins |
| 15 | 20c coins |
| 6 | 10c coins |
| 4 | 5c coins |
| 9 | 2c coins |
| 12 | 1c coins |
The following vouchers were with the float: 731: $15.00, 732: $6.73, 733: $21.90, 734: $35.80, 720: $1.40
On Monday 3 January 20X2, just before the petty float was due to be topped up to the Imprest amount of $50, the cash and vouchers at that time were counted.
The notes and coins in the float were as follows:
| 1 | $5 note |
| 2 | $1 coins |
| 6 | 50c coins |
| 5 | 20c coins |
| 3 | 10c coins |
| 2 | 5c coins |
| 24 | 1c coins |
The following vouchers were with the float as evidence of recent payments made: