Question
Quinn Companys bank statement at January 31, 2011 shows a cash balance of $13,360. The companys general ledger account shows a cash balance of $12,890.
Quinn Company’s bank statement at January 31, 2011 shows a cash balance of $13,360. The company’s general ledger account shows a cash balance of $12,890. The only reconciling items are the following:
Deposit in transit | $890 | Bank service charge | $24 |
Outstanding checks | ? | NSF check from a customer | $426 |
What is the total amount of outstanding checks?
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
0077664078, 978-0077664077, 78111048, 978-0078111044
