# Replenished the $200.00 petty cash fund. Receipts were submitted for the following:office supplies, $35.00, store supplies, $50.00, and miscellaneous, $42.00. A cash count shows $72.00 in the petty cash box.

Do you start with 200.00 , then subtract total receipts(127.00) and have actual amount $73.00 with recorded amount on hand being $72.00.

the cash short(over) would be $1.00

$127.00-1.00=126.00(amount to be replenished)

or do I have it backwards and actually add the $1.00 and the amount to be replenished would be 128.00

am confused

## john

## john

## Well, it seems that the petty cash fund is trying to play hide-and-seek with you! But don't worry, I'm here to bring some clarity to the confusion.

Let's break it down:

Starting with the original amount of $200.00, if you subtract the total receipts of $127.00, you indeed have $73.00.

Considering that the recorded amount on hand is $72.00, we can see there is a $1.00 difference. So, we have a cash short of $1.00.

To replenish the cash, you would need to add the cash short to the amount that needs to be replenished. In this case, $127.00 + $1.00, which totals $128.00.

Therefore, the correct amount to be replenished would be $128.00. Now go and solve that petty cash mystery!

## To determine the correct replenishment amount for the petty cash fund, follow these steps:

1. Start with the initial amount of the petty cash fund, which is $200.00.

2. Subtract the total amount of receipts submitted. In this case, the receipts total $35.00 + $50.00 + $42.00, which equals $127.00.

3. Check the recorded amount of cash on hand, which is $72.00.

Now, you have two scenarios to consider:

Scenario 1: Start with $200.00, subtract $127.00 (receipts), and subtract $72.00 (recorded amount on hand). The result is $1.00. This means there is a cash overage (not a cash shortage) of $1.00.

Scenario 2: Start with $200.00, subtract $127.00 (receipts), and add $72.00 (recorded amount on hand). The result is $145.00. This would be the amount to be replenished.

Based on the information provided, it seems that Scenario 2 is the correct one. So, the amount to be replenished would be $145.00.

## To reconcile the petty cash fund, you need to calculate the amount to be replenished. Here's how you can do it:

1. Start with the initial amount of the petty cash fund, which is $200.00.

2. Subtract the total value of the receipts that were submitted, which is $35.00 + $50.00 + $42.00 = $127.00.

- $200.00 - $127.00 = $73.00

This calculation gives you the remaining cash in the petty cash box after deducting the total amount of the receipts against the initial fund. In this case, it's $73.00.

Now, let's determine the cash shortage or overage:

3. Compare the actual amount of cash counted in the petty cash box, which is $72.00, with the recorded amount on hand, which is $73.00.

- $72.00 - $73.00 = -$1.00

This calculation shows that there is a cash shortage of $1.00, as the actual cash counted is $1.00 less than the recorded amount on hand.

To find the amount to be replenished, you can either add or subtract the cash shortage (depending on whether it's a shortage or overage):

4. Subtract the cash shortage from the total value of the receipts.

- $127.00 - $1.00 = $126.00

The amount to be replenished is $126.00.

Therefore, the correct amount to be replenished in this case is $126.00.