Checks issued from November purchases amounting to $90,100 was reflected in December bank statement. As per the records in the book, all checks issued amounts to $ 764,290. However, of all checks issued, only $607,300 was cleared by the bank. Compute for the outstanding checks at the end of December.
Checks issued from November purchases amounting to $90,100 was reflected in December bank statement. As per the records in the book, all checks issued amounts to $ 764,290. However, of all checks issued, only $607,300 was cleared by the bank. Compute for the outstanding checks at the end of December.
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments
Section: Chapter Questions
Problem 18RQSC
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Checks issued from November purchases amounting to $90,100 was reflected
in December bank statement. As per the records in the book, all checks issued amounts to $ 764,290. However, of all checks issued, only $607,300 was cleared by the bank. Compute for the outstanding checks at the end of
December.
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