### Bank Reconciliation for Metlock, Inc.On April 30, the bank reconciliation for Metlock, Inc. shows three outstanding checks: - Check No. 254: $630- Check No. 255: $870- Check No. 257: $500The May bank statement and the May cash payments are detailed below.#### Bank Statement Date Check No. Amount 5/4 254 $630 5/2 257 $500 5/17 258 $289 5/12 259 $215 5/20 261 $590 5/26 260 $460 5/30 262 $770 #### Cash Payments Date Check No. Amount 5/2 258 $289 5/5 259 $215 5/10

Introduction: An outstanding check is a cheque payment that the issuing entity has recorded but has…

On April 30, the bank reconciliation of Metlock, Inc. shows three outstanding checks: no. 254, $630; no. 255, $870; and no. 257, $500 The May bank statement and the May cash payments are shown as follows. Date 5/4 5/2 5/17 5/12 5/20 5/29 5/30 Date 5/2 Bank Statement 5/5 5/10 5/15 5/22 5/24 5/29 Checks Paid Check No. 254 257 258 259 261 263 262 258 259 260 261 262 263 Cash Payments Checks Issued Check No. Amount $289 264 Amount $630 500 Check No. 289 215 590 460 770 215 980 590 770 460 540 Using Step 2 in the reconciliation procedure, list the outstanding checks at May 31. Amount

On April 30, the bank reconciliation of Metlock, Inc. shows three outstanding checks: no. 254, $630; no. 255, $870; and no. 257, $500 The May bank statement and the May cash payments are shown as follows. Date 5/4 5/2 5/17 5/12 5/20 5/29 5/30 Date 5/2 Bank Statement 5/5 5/10 5/15 5/22 5/24 5/29 Checks Paid Check No. 254 257 258 259 261 263 262 258 259 260 261 262 263 Cash Payments Checks Issued Check No. Amount $289 264 Amount $630 500 Check No. 289 215 590 460 770 215 980 590 770 460 540 Using Step 2 in the reconciliation procedure, list the outstanding checks at May 31. Amount

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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