ACC201 TOP Exam Questions and CORRECT Answers

Windsor, Inc. had checks outstanding totaling $ 27900 on its June bank reconciliation. In July, Windsor, Inc. issued checks totaling $ 200700. The July bank statement shows that $ 135700 in checks cleared the bank in July. A check from one of Windsor, Inc.'s customers in the amount of $ 1500 was also returned marked "NSF." The amount of outstanding checks on Windsor, Inc.'s July bank reconciliation should be$ 27900 + $ 200700 - $ 135700 = $ 92900 (June out. Checks + book disb - bank disb.) Ayayai Corp. gathered the following reconciling information in preparing its April bank reconciliation: Cash balance per books, 4/30 $ 16500 Deposits in transit 2300 Notes receivable and interest collected by bank 5560 Bank charge for check printing 190 Outstanding checks 11300 NSF check 1050