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Question 6 of 15

In the month of November, Fiesta Company Inc. wrote checks in the amount of [tex][tex]$\$[/tex]9,750[tex]$[/tex]. In December, checks in the amount of [tex]$[/tex]\[tex]$11,762$[/tex][/tex] were written. In November, [tex][tex]$\$[/tex]8,800[tex]$[/tex] of these checks were presented to the bank for payment, and [tex]$[/tex]\[tex]$10,889$[/tex][/tex] in December. There were no outstanding checks at the beginning of November.

What is the amount of outstanding checks at the end of November? At the end of December?

- November: [tex][tex]$\$[/tex]950[tex]$[/tex]
- December: [tex]$[/tex]\[tex]$1,623$[/tex][/tex]

Sagot :

GinnyAnswer
Certainly! Let’s break down the solution step by step:

1. Identify the Total Amount of Checks Written:
- In November, the total amount of checks written was \[tex]$9,750. - In December, the total amount of checks written was \$[/tex]11,762.

2. Identify the Amount of Checks Presented to the Bank:
- In November, the amount of checks presented to the bank was \[tex]$8,800. - In December, the amount of checks presented to the bank was \$[/tex]10,889.

3. Calculate the Amount of Outstanding Checks at the End of November:
- To find the outstanding checks at the end of November, subtract the amount presented to the bank from the total checks written in November:
[tex]\[ 9750 - 8800 = 950 \][/tex]
Thus, the outstanding checks at the end of November amount to \[tex]$950. 4. Calculate the Amount of Outstanding Checks at the End of December: - First, calculate the total checks written up to the end of December: \[ 9750 + 11762 = 21512 \] - Next, calculate the total checks presented to the bank up to the end of December: \[ 8800 + 10889 = 19689 \] - To find the outstanding checks at the end of December, subtract the total checks presented from the total checks written: \[ 21512 - 19689 = 1823 \] Therefore, the outstanding checks at the end of December amount to \$[/tex]1823.

In summary:
- The amount of outstanding checks at the end of November is \[tex]$950. - The amount of outstanding checks at the end of December is \$[/tex]1823.
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