Question

intext:"Pelcher Co. maintains a $400 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $110 for office supplies, $140 for merchandise inventory, and $70 for miscellaneous expenses. There is a cash overage of $4. Based on this information, the amount of cash in the fund before the replenishment is"

Answer 1

Answer:

$84

Explanation:

Calculation for the amount of cash in the fund before the replenishment for Pelcher Co.

Petty Cash $400

Less : Office Supplies ($110)

Less: Merchandise Inventory ($140)

Less :Miscellaneous ($70)

Add Cash Overage $4

Cash in Fund $84

Therefore the amount of cash in the fund before the replenishment for Pelcher Co will be $84