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I am so confused how to figure out cash short and over as well as just cash. Please help and explain this to me please!

image text in transcribedI am so confused how to figure out cash short and over as well as just cash. Please help and explain this to me please!

I will rate!

Many thanks and God bless

%E7-17 (similar to) Question Help Tony's Dance Studio created a $400 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows: (Click the icon to view the petty cash tickets.) Read the requirements Requirement 1. Make the general journal entry to create the petty cash fund. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Debit Credit Accounts and Explanation Petty Cash Cash 400 400 To open the petty cash fund. Requirement 2. Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $186. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table. Prepare a single compound journal entry) Date Debit Credit 25 x 40 Requirements Data Table 30 Accounts and Explanation Delivery Expense Postage Expense Printing Expense Miscellaneous Expense Office Supplies Cash Short and Over Cash 55 50 Petty Cash Ticket No. Amount 1. Make the general journal entry to create the petty cash fund. Include an explanation. 2. Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $186. Include an explanation. 3. Assume that Tony's Dance Studio decides to decrease the petty cash fund to $300. Make the general journal entry to record this decrease. Ticket No. 1 $ 25 Ticket No. 2 40 Item Account Debited Delivery of programs to customers Delivery Expense Mail package Postage Expense Newsletter Printing Expense Key to closet Miscellaneous Expense Copier paper Office Supplies Ticket No. 3 30 To replenish the petty cash fund, Ticket No. 4 55 Print Done Ticket No. 5 50 Print Done Choose from any list or enter any number in the input fields and then click Check Answer. 1 parma Clear All Check Answer remaining

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