Question

The petty cash fund had an initial imprest balance of $210. It currently has $17 in cash, $4 in miscellaneous cash receipts, and an additional $183 in specific cash receipts. The debit to Cash Short & Over would be

$17
$5
$183
$187

Answer 1

The debit to Cash Short & Over amounts to $6

Step-by-step explanation:

The debit to Cash Short & Over is computed as:

Debit to Cash Short & Over = Petty cash fund - Cash - Miscellaneous cash receipt - Additional cash receipts

where

Petty cash fund amounts to $210

Cash amounts to $17

Miscellaneous cash amounts to $4

Additional cash receipts amounts to $183

So, putting the values above:

Debit to Cash Short & Over = $210 - $17 - $4 - $183

Debit to Cash Short & Over = $6

Therefore, the Debit to Cash Short & Over amounts to $6

NOTE: Here in the options correct options is missing.