NOWV2 |Online teachin xssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator=&inprogress%3falseMinor Company had checks outstanding totaling $19,200 on its April bank reconciliation. In May, Minor Company issued checks totaling $64,900. TheMay bank statement shows that $47,600 in checks cleared the bank in May. A check of $300 from one of Minor Company's customers was also returnemarked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should beOa. $17,300Ob. $66,800Oc. $36,500Od. $28,400

A bank reconciliation statement reconciles an entity's bank account with its financial records by…

Answered: ank re < statement shows that $47,600…

ank re < statement shows that $47,600 in checks cleared the bank in May. "NSF." The amount of outstanding checks on Minor Company's May 300 ,800 ,500 400

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

NOWV2 |Online teachin x
ssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator=&inprogress%3false
Minor Company had checks outstanding totaling $19,200 on its April bank reconciliation. In May, Minor Company issued checks totaling $64,900. The
May bank statement shows that $47,600 in checks cleared the bank in May. A check of $300 from one of Minor Company's customers was also returne
marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be
Oa. $17,300
Ob. $66,800
Oc. $36,500
Od. $28,400

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