Minor Company had checks outstanding totaling $4,127 on its April bank reconciliation. In May, Minor Company issued checks totaling $41,968. The May bank statement shows that $26,955 in checks cleared the bank in May. A check from one of Minor Company's customers of $397 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be a.$68,923 b.$22,828 c.$18,743 d.$19,140
Minor Company had checks outstanding totaling $4,127 on its April bank reconciliation. In May, Minor Company issued checks totaling $41,968. The May bank statement shows that $26,955 in checks cleared the bank in May. A check from one of Minor Company's customers of $397 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be a.$68,923 b.$22,828 c.$18,743 d.$19,140
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Minor Company had checks outstanding totaling $4,127 on its April bank reconciliation. In May, Minor Company issued checks totaling $41,968. The May bank statement shows that $26,955 in checks cleared the bank in May. A check from one of Minor Company's customers of $397 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be
a.$68,923
b.$22,828
c.$18,743
d.$19,140
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