Question

Given the following information:

Petty cash balance $475 Courier receipt $88.10

Postage receipt $53 Office Supplies receipt $61.82

Business meal receipt $107.94 Cash on hand at the end of the month $81.81

  

What is the amount that needs to be reimbursed?

Answer 1

The reimbursement is the difference between petty cash balance and the ending balance.

Reimbursement = Petty cash balance – Ending balance

                        = 475 – 81.81

                        = $393.19 (Answer)

Note: expenses, like courier receipt, postage receipt, etc. should not be considered here.