A petty cash fund of $200 has $27 in cash,$170 in petty cash vouchers,and $3 in miscellaneous receipts not included with the petty cash vouchers.The debit to the Cash Short and Over would be

Question

Quizplus · Accepted Answer

The total of cash and vouchers should equal the petty cash fund amount. Here, $27 (cash) + $170 (vouchers) + $3 (miscellaneous receipts) = $200, which matches the petty cash fund amount, indicating there is no shortage or overage.

A Petty Cash Fund of $200 Has $27 in Cash,$170