In the month of November, Wildhorse Co. Inc. wrote checks in the amount of $9,685. In December, checks in the amount of $11,195 were written. In November, $8,465 of these checks were presented to the bank for payment, and$10,150 in December.What is the amount of outstanding checks at the end of November? At the end of December?NovemberDecemberThe amount of outstanding checks2$2$

Outstanding check is a check payment which is written by someone, but has not been cashed or…

Answered: In the month of November, Wildhorse Co.…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Dinesh bhai
Instructions The cash account for Brentwood Bike Co. at May 1 indicated a balance of $32,991. During May, the total cash deposited was $139,960, and checks written totaled $137,747. The bank statement indicated a balance of $43,370 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $6,476. b. A deposit of $1,779 representing receipts of May 31 had been made too late to appear on the bank statement. c. The bank had collected for Brentwood Bike Co. $5,250 on a note left for collection. The face of the note was $5,000. d. A check for $580 returned with the statement had been incorrectly charged by the bank as $850. e. A check for $210 returned with the statement had been recorded by Brentwood Bike Co. as $120. The check was for the payment of an obligation to Adkins Co. on account. f. Bank service charges for May amounted to $28. g. A check for $1,393 from…
Need help
2. The June 30 bank reconciliation also reported outstanding checks of $680. During the month of July, Dawes Company's books show that $17,200 of checks were issued. The bank statement showed that $16,400 of checks cleared the bank in July (b) In situation (2), what were the outstanding checks at July 31? Outstanding checks at July 31
Help with Correct Answer
1. The following information is available for the Aston Company for the month of December. a. On December 31, after all transactions have been recorded, the balance in the company's Cash account has a balance of $272,020. b. The company's bank statement shows a balance on December 31 of $292,790. c. Outstanding checks at December 31 include check # 3030 in the amount of $15,250 and check # 3556 in the amount of $14,590. d. A credit memo included with the bank statement indicates that the bank collected $7,800 on a noninterest-bearing note receivable for Aston. The bank deducted a $100 collection fee, and credited the remainder of $7,700 to Aston's account. e. A debit memo included with the bank statement shows a $670 NSF check from a customer, J. I Brown. f. A deposit placed in the bank's night depository on December 31 totaled $16,750, and did not appear on the bank statement. g. Examination of the checks on the bank statement with the entries in the accounting records reveals that…
i.2
Fred's Supply's month end bank statement shows a balance of $32,000. Outstanding checks were $10,000, and the $5,000 deposit on the last day of the month is not yet shown on the bank statement since it was made after 4 p.m. Bank service fees of $35 and a returned check (NSF) of $49 were shown on the statement are not yet recorded on the books. What is the correct (reconciled) month-end cash amount? Respond in a whole number, no commas and no dollar signs.
Alvin Electronics is in the process of reconciling its bank account for the month of November. The following information is available: Balance per bank statement $ 8,325 Outstanding checks 2,400 Deposits outstanding 1,215 Bank service charges for November 35 Check written by Alvin for $300 but recorded incorrectly by Alvin as a $30 disbursement. What should be the corrected cash balance at the end of November?
Please provide Answer in text Format
Uramilaben
-------- deposits all cash receipts on the day they are received and makes all cash payments by check. The January general ledger shows $24,474 at the end of the month. Comparison of the bank statement to its general ledger cash account revealed the following: NSF check deposit 287 Deposit in transit 2,100 Outstanding checks 1,100 Additionally, interest in the amount of $80 was earned on the bank account but had not been recorded in the general ledger. The adjusted cash balance per the book records should be:

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS