Minor Company had checks outstanding totaling $5,722 on its April bank reconciliation. In May, Minor Company issued checks totaling $41,711. The May bank statement shows that $25,332 in checks cleared the bank in May. A check of $467 from one of Minor Company's customers was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be a.$22,101 b.$21,634 c.$19,610 d.$67,043
Minor Company had checks outstanding totaling $5,722 on its April bank reconciliation. In May, Minor Company issued checks totaling $41,711. The May bank statement shows that $25,332 in checks cleared the bank in May. A check of $467 from one of Minor Company's customers was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be a.$22,101 b.$21,634 c.$19,610 d.$67,043
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Minor Company had checks outstanding totaling $5,722 on its April bank reconciliation. In May, Minor Company issued checks totaling $41,711. The May bank statement shows that $25,332 in checks cleared the bank in May. A check of $467 from one of Minor Company's customers was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be
a.$22,101
b.$21,634
c.$19,610
d.$67,043
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