On January 3, 2017. you conducted a surprise count in connection with your audit of the financial statements of Doctor Corporation for the year ended December 31, 2016. The following were identified on your examination: Bills consist of one (1) P 1.000 bill three (3) P500 bill; three (3) P200 bill; six (6) Pico bill ; seven (7) P50 bill; and four (4) P20 bill. Coins consist of nine (9) P10 coin;eight (8) P5 coin; and seven 7) P1 coin Checks include the following: Date Maker Payee Amount Dec. 30 John Floyd Cruz Doctor corp. P13.000 Dec. 30 SLUU Inc. Doctor corp. 5,000 Dec. 30 Indo Co. Doctor corp. 7.000 Dec. 31 Doctor corp. Benedict, Custodian 10,000 Unreimbursed vouchers comprise of the following: Date Description Amount Dec. 27 Postage P1,000 Dec. 27 Transportation 2.000 Dec. 28 Computer repairs 1.500 Dec. 30 Supplies 800 Additional Information a. An open envelope was marked 'p2.000 for Christmas party with vouchers totaling to P1,850. Based on your inquiry. the whole amount was mingled with the petty cash fund and only the expense vouchers were inserted back to the envelope. b. Official repts dated December 24 to December 31 were as follows. OR NO. Form of Amount Payment 120141 Cash 120142 Check 7.000 120143 Cash 891 1201444 Check 12,000 120145 Check 13,000 120146 Check 5,000 566 c. The custodian is not authorized to cash checks d Cash collections from December 24 to December 31 were not yet deposited e. Unused postage stamp amount to P350 f. The last replenishment was on December 25. The petty cash fund was set up at P20,000 What is the total amount of shortage/overage? What is the balance of the petty cash fund to be presented as of December 31, 2016? On January 3, 2017. you conducted a surprise count in connection with your audit of the financial statements of Doctor Corporation for the year ended December 31, 2016. The following were identified on your examination: Bills consist of one (1) P 1.000 bill three (3) P500 bill; three (3) P200 bill; six (6) Pico bill ; seven (7) P50 bill; and four (4) P20 bill. Coins consist of nine (9) P10 coin;eight (8) P5 coin; and seven 7) P1 coin Checks include the following: Date Maker Payee Amount Dec. 30 John Floyd Cruz Doctor corp. P13.000 Dec. 30 SLUU Inc. Doctor corp. 5,000 Dec. 30 Indo Co. Doctor corp. 7.000 Dec. 31 Doctor corp. Benedict, Custodian 10,000 Unreimbursed vouchers comprise of the following: Date Description Amount Dec. 27 Postage P1,000 Dec. 27 Transportation 2.000 Dec. 28 Computer repairs 1.500 Dec. 30 Supplies 800 Additional Information a. An open envelope was marked 'p2.000 for Christmas party with vouchers totaling to P1,850. Based on your inquiry. the whole amount was mingled with the petty cash fund and only the expense vouchers were inserted back to the envelope. b. Official repts dated December 24 to December 31 were as follows. OR NO. Form of Amount Payment 120141 Cash 120142 Check 7.000 120143 Cash 891 1201444 Check 12,000 120145 Check 13,000 120146 Check 5,000 566 c. The custodian is not authorized to cash checks d Cash collections from December 24 to December 31 were not yet deposited e. Unused postage stamp amount to P350 f. The last replenishment was on December 25. The petty cash fund was set up at P20,000 What is the total amount of shortage/overage? What is the balance of the petty cash fund to be presented as of December 31, 2016