Tier Company established a petty cash fund of P10,000 on July 1, 2021. At the end of the month, the count of cash on hand indicated that P3,557.40 remained in the fund. A review of petty cash vouchers disclosed the following expenses had been incurred during the month: Office supplies – P841.60 Postage – P780.00 Representation – P1,000,00 Transportation – P1,321.40 Miscellaneous – P837.60 Other items found in the petty cash drawer were as follows: A sympathy envelope containing P3,500, representing employees’ contributions for the death of the mother of the company’s messenger. An employee’s check for P1,100 dated August 15, 2021. The given information indicates that there is a how many shortage or overage?
51 Tier Company established a petty cash fund of P10,000 on July 1, 2021. At the end of the month, the count of cash on hand indicated that P3,557.40 remained in the fund. A review of petty cash vouchers disclosed the following expenses had been incurred during the month:
Office supplies – P841.60
Postage – P780.00
Representation – P1,000,00
Transportation – P1,321.40
Miscellaneous – P837.60
Other items found in the petty cash drawer were as follows:
A sympathy envelope containing P3,500, representing employees’ contributions for the death of the mother of the company’s messenger.
An employee’s check for P1,100 dated August 15, 2021.
The given information indicates that there is a how many shortage or overage?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
