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

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

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