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Aleonysh [2.5K]
3 years ago
15

Fitzgerald Company wrote checks totaling $34,160 during October and $37,300 during November. $32,480 of these checks cleared the

bank in October, and $36,440 cleared the bank in November. What was the amount of outstanding checks on November 30?
Business
1 answer:
il63 [147K]3 years ago
5 0

Answer:

The amount of $ 2,540 is the checks that were outstanding on November 30.

Explanation:

The amount of the outstanding checks will be shown as:

Amount of outstanding checks = Checks wrote in October + Checks wrote in November - Checks cleared in October - Checks cleared in November

where

Checks wrote in October amounts to $34,160

Checks wrote in November amounts to $37,300

Checks cleared in October amounts to $32,480

Checks cleared in November amounts to $36,440

Putting the values above:

Amount of outstanding checks = $34,160 + $37,300 - $32,480 - $36,440

= $71,460 - $68,920

= $2,540

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In this case the perfect tender rule

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Which set of goals can at times conflict in the short run
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3 years ago
Sundance Systems has the following transactions during July.
inn [45]

Answer:

Jul-05 Dr Inventory $118,800

Cr Accounts Payable $118,800

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Cr Inventory $ 5,400

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Cr Inventory $108,864

Explanation:

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Jul-05 Dr Inventory $118,800

Cr Accounts Payable $118,800

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Jul-08 Dr Accounts Payable $5,400

Cr Inventory $ 5,400

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(Being to record inventory returned that were defective)

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(42 LCDs x $ 2700)

Cr Cash $108,864

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Answer:

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