In the month of November, Crane Company Inc. wrote checks in the amount of $9,960. In December, checks in the amount of $11,485 were written. In November, $8,465 of these checks were presented to the bank for payment, and $10,810 in December. There were no outstanding checks at the beginning of November. What is the amount of outstanding checks at the end of November? At the end of December?

Question

Danna Lamb

Business

17 September, 19:37

In the month of November, Crane Company Inc. wrote checks in the amount of $9,960. In December, checks in the amount of $11,485 were written. In November, $8,465 of these checks were presented to the bank for payment, and $10,810 in December. There were no outstanding checks at the beginning of November. What is the amount of outstanding checks at the end of November? At the end of December?

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Chipper · Answer 1

outstanding at Nov 31th: 1,465

outstanding at year-end 2,170

Explanation:

From the beginning of the month outstanding checks, we add the check written and subtract hose which are cleared.

Beginning outstanding checks: 0

November written checks: 9,960

November presented check (8,465)

outstanding at Nov 31th: 1,465

Beginning outstanding check 1,465

December written checks: 11,485

December presneted check (10,810)

outstanding at year-end 2,170