Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Metlock, Inc. had checks outstanding totaling $29200 on its June bank reconciliation. In July, Metlock, Inc. issued checks totaling $210100. The July bank statement shows

Metlock, Inc. had checks outstanding totaling $29200 on its June bank reconciliation. In July, Metlock, Inc. issued checks totaling $210100. The July bank statement shows that $142000 in checks cleared the bank in July. A check from one of Metlock, Inc.'s customers in the amount of $1600 was also returned marked "NSF." The amount of outstanding checks on Metlock, Inc.'s July bank reconciliation should be
$68100.
$97300.
$95700.
$38900.
image text in transcribed
Metiock, Inc, had checks outstanding totaling $29200 on its June bank reconciliation. In July, Metlock, Inc. issued checks totaling $210100. The July bank statement shows that $142000 in checks cleared the bank in July. A check from one of Metlock. Inc's customers in the amount of $1600 was also returned marked "NSE." The amount of outstanding checks on Metlock, Inc's July bank reconciliation should be $68100.$97300.$95700.$38900

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Organisational Leadership Audit

Authors: William Tate

1st Edition

0955970717, 978-0955970719

More Books

Students also viewed these Accounting questions

Question

b. What is the standard error of the estimator in part (a)?

Answered: 1 week ago