Accounts - Principles of Accounts Past Questions and Answers

Use the information below to answer the following questions

Period 1	N
Cash to petty cashier	1000
Petty cashier pays out	780
Period 2
Petty cashier pays out	840

What is the balance of cash with the petty cashier at the end of period 1?

Cash discount is often recorded on?

The standing order is a payment instruction given by a?

Which of the should not be added or subtracted from the bank statement balance to determine the adjust cash balance?

Given:
Balance as per cash book...................N20,000
Unpresented cheques........................N5, 200
Direct credit to the bank..................N1, 000
Direct debit from the bank.................N1, 000
Credit in the cash book....................N500
Calculate the balance as per bank statement at the end of the year?