Question

In the month of November Marigold Corp. wrote checks in the amount of $43300. In December, checks in the amount of $59239 were written. In November, $39630 of these checks were presented to the bank for payment, and $50932 in December. What is the amount of outstanding checks at the end of December

Answer 1

Answer:

11,977

Explanation:

Workings

                                                             Checks

                                                    Dr                         Cr

November                           $43300

November                                                            $39630

December                           $59239

December                                                            $50932

                                                                             $ 11,977

                                             $102,539               $ 102,539

Answer 2

Answer:

$11,977

Explanation:

The difference between the balance of the total checks written and balance of the total checks presented for withdrawal gives the amount outstanding.

As such, amount of outstanding checks at the end of December is the net of the balance of the checks written in November and December and the balance of the checks presented in the same period.

This is

= $43300 + $59239 - $39630 - $50932

= $11,977