Solved: You are attempting to determine an apparent cash shortage, Financial Accounting

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You are attempting to determine an apparent cash shortage

Question - You are attempting to determine an apparent cash shortage that you believe resulted from an employee's theft. You have assembled the following information for the month of March:

Cash balance per books, March 1 - P115,963.70

Cash receipts for March, per books - 246,475.00

Cash disbursements for March, per books - 334,709.10

Cash balance, per bank statement, March 31 - 15,341.40

Deposit in transit, March 31 - 9,000.00

Outstanding checks, March 31 - 2,703.80

Bank service charge for March - 92.00

Required: What is the amount of the suspected cash shortage?

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Financial Accounting: You are attempting to determine an apparent cash shortage

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