Homework Answers
Calculation of amount outstanding at the end of November:
Amount of outstanding checks = Amounts of checks written - Amount of checks presented for payment
= $10370 - $8650 = $1720
Calculation of amount outstanding at the end of December:
Amount of outstanding checks = Amounts of checks written + Amount of outstanding checks for the month of November - Amount of checks presented for payment
= $11120 + $1720 - $10745 = $2095
|
November |
December |
|
|
The amounts of outstanding checks |
$1720 |
$2095 |
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Brief Exercise 7-11 In the month of November, Sheridan Company Inc. wrote checks in the amount...
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I'm having problems knowing how to do this can you please help me and show me...
I'm having problems knowing how to do this
can you please help me and show me the steps to solve it thank
you.
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I'm having problems knowing how to do this
can you please help me and show me the steps to solve it thank
you.
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please
help
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ste checks in the amount of $28,000. In 32. In the month of May, Kijak Company Inc. wrote checks in the amount of June, checks in the amount of $38,000 were written. In May, $25.000 were presented to the bank for payment, and $33,000 in June. What is the am outstanding checks at the end of May? A) $3,000 B) $5,000 C) $8,000 D) $10,000 33. Cash equivalents include each of the following except A) bank certificates of deposit. B)...
QUESTION 11 Lending money and collecting the loans are Not yet answered Marked out of 1.00 Select one P Flag question a. Non-cash investing and financing activities b. Operating activities O c. Financing activities d. Investing activities QUESTION 12 Not yet answered In the month of April, Mazaya Company Inc wrote checks in the amount of R.0.18.500. In May, checks in the amount of R.O.25.316 were written in April, R016.936 of these checks were presented to the bank for payment,...
The cash balance per books for Wellmeyer Company on November 30, 2022, is $10,740.93. The following checks and receipts were recorded for the month of December 2022: Checks Receipts No. Amount No. Amount Amount Date 17 $372.96 22 $ 578.84 $ 843.86 12/5 18 780.62 23 1,687.50 941.54 12/21 19 157.00 24 921.30 808.58 12/27 20 587.50 25 246.031,367.00 12/31 21 234.15 In addition, the bank statement for the month of December is presented below: Balance Deposits and Credits Checks...
Exercise 7-7 At April 30, the bank reconciliation of Sheridan Company shows three outstanding checks: No. 254 $730, No. 255 $905, and No. 257 $450. The May bank statement and the May cash payments journal are given here Bank Statement Checks Paid Date Check No. Amount 5-4 5-2 5-17 5-12 5-20 5-29 5-30 254 257 258 259 260 263 262 $730 450 181 300 965 515 790 Cash Payments Journal Checks Issued Date Check No. Amount $181 300 965 450...
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