Given the following information: $\begin{array}{lrlr}
\text { Petty cash balance } & \$ 450.00 & \text { Courier receipt } & \$ 82.50 \
\text { Postage receipt } & \$ 48.00 & \text { Office Supplies receipt } & \$ 56.22 \
\text { Business meal receipt } & \$ 102.34 & \text { Cash on hand at the end of the month } & \$ 76.21
\end{array}$
What is the amount of cash over and short?

Question

Quizplus · Accepted Answer

The total expenses from receipts are $289.06 ($82.50 + $48.00 + $56.22 + $102.34). The expected cash on hand should be $160.94 ($450.00 - $289.06). The actual cash on hand is $76.21, resulting in a cash shortfall of $84.73 ($160.94 - $76.21), which is recorded as a debit.

Given the Following Information What Is the Amount of Cash Over and Short? A)

Given the Following Information What Is the Amount of Cash Over and Short?
A)