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Amiraneli [1.4K]
3 years ago
10

In the month of November Marigold Corp. wrote checks in the amount of $43300. In December, checks in the amount of $59239 were w

ritten. 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
Business
2 answers:
IrinaVladis [17]3 years ago
7 0

Answer:

11,977

Explanation:

Workings

                                                             Checks

                                                    Dr                         Cr

November                           $43300

November                                                            $39630

December                           $59239

December                                                            $50932

                                                                             $ 11,977

                                             $102,539               $ 102,539

yanalaym [24]3 years ago
4 0

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

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Answer:

ERIC: Hi, Hubert. This is my first economics course, and many of the concepts discussed in class are really confusing. Today the professor explained that the true cost of going to college includes both the tuition I pay as well as something called the "opportunity cost" of going to college. I don't understand. I pay $32,000 per year in tuition. The tuition is what I pay to the school, so it seems like that should be my true cost!

HUBERT: Hi, Eric. Many concepts in economics can be confusing at first. Let's talk it through.

Economists think of costs a bit differently than just the dollar amount that you pay. To an economist, the true cost of college includes the total value of what you give up in order to acquire your college education. In other words, not only did you give up the tuition money that you paid, but by attending college, you gave up opportunities to do other things with your time as well. This is where the idea of opportunity cost comes from.

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