Question

In the month of Nov Pharoah company inc wrote checks in the amount of$10310. In dec checks in the amount of $ 11785 were written. In Nov $8580 of these checks were presented to the bank for payment, and $10770 in dec
What is the amount of outstanding checks at the end of Nov and at the end of Dec.

Answer 1

Answer:

the amount of outstanding checks at the end of Nov and at the end of Dec is $1,730 and $1,015 respectively

Step-by-step explanation:

The computation of the amount of outstanding checks at the closing of Nov and dec is as follows

Particulars             November        December

Written checks     $10,310              $11,785

Less:

Presented checks  -$8,580            -$10,770

Outsanding checks $1,730              $1,015

Hence, the amount of outstanding checks at the end of Nov and at the end of Dec is $1,730 and $1,015 respectively