WAEC Accounting 2021 Objective — Question 21
Question 21 of 50 from the West African Examinations Council (WAEC) Accounting 2021 Objective paper, with the correct answer and a full explanation.
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The petty cash account has an imprest of GH¢36,000 and a debit balance of GH¢10,000 at the end of the month. The reimbursement required would be
- A. GH¢46,000
- B. GH¢36,000
- C. GH¢26,000Correct
- D. GH¢10,000
Explanation
GH¢10,000 is the remaining amount in the imprest; the petty cashier must be reimbursed with GH¢26,000 to restore the imprest to GH¢36,000.
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