Question

Kingbird, Inc. wrote checks totaling $43810 during October and $47839 during November. $41660 of these checks cleared the bank in October, and $46735 cleared the bank in November. What was the amount of outstanding checks on November 30

Answer 1

Answer:

$3,254

Explanation:

The computation of the amount of outstanding checks on November 30 is shown below:            

But first we have to determined the outstanding amount in October which is

= Check written in October month - check cleared in October month

= $43,810 - $41,660

= $2,150

So the outstanding checks amount in November month is

= Outstanding balance in October + checks written in November month - checks cleared in October month

= $2,150 + $47,839 - $46,735

= $3,254