Homework Answers
Ans is C ) Credit to cash short and over by $10
Reason : we have to maintain $192 of cash in the cash fund and we have $22 of cash and another cash receipt of $180 .Hence the total cash in the cash fund is $202 , but we have to maintain $192 . Hence we shall credit the cash by $ 10.
The other options don't fulfill the criteria of maintaining $192 of csh in cash fund .
If option A is selected then cash balance will be 202-192=$10
If option B is selected then the cash balance will be $202+22=$224
If option D is selected then the cash balance will be 202-180=$22
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