Question

In the month of November, Kinsey Company Inc. wrote checks in the amount of $18,500. In December, checks in the amount of $25,316 were written. In November, $16,936 of these checks were presented to the bank for payment, and $21,766 were presented in December. What is the amount of outstanding checks at the end of November?

A) $1,564
B) $4,830
C) $5,114
D) $6,816

Answer 1

The amount of outstanding checks at the end of November for Kinsey Company Inc. is $1,564, which is obtained by subtracting the amount of checks presented to the bank ($16,936) from the total amount of checks written in November ($18,500).

Step-by-step explanation:

To calculate the amount of outstanding checks at the end of November for Kinsey Company Inc., we need to subtract the total amount of checks presented to the bank from the total amount of checks written. Kinsey Company Inc. wrote checks totaling $18,500 in November, and checks in the amount of $16,936 were presented to the bank for payment in the same month.

The calculation to find the outstanding checks at the end of November is as follows:
$18,500 (checks written) - $16,936 (checks presented) = $1,564 (outstanding checks).

Therefore, the amount of outstanding checks at the end of November is $1,564, which corresponds to option A).