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

Question

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

Quizplus · Accepted Answer

The total expenses are $289.06 ($82.50 + $48.00 + $56.22 + $102.34). The expected cash on hand should be $160.94 ($450.00 - $289.06), but the actual cash on hand is $76.21. The difference is $84.73, which is a shortage, so it is debited.

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)