Bank reconciliation problem: outstanding checks?

At April 30 the bank reconciliation of Guardado Company shows three outstanding checks: No. 254 $665, No. 255 $1,194, and No. 257 $470. The May bank statement and the May cash payments journal are given here.

Bank Statement

Checks Paid

Date Check No. Amount

5-4 254 $665

5-2 257 470

5-17 258 201

5-12 259 284

5-20 261 540

5-29 263 391

5-30 262 790

Cash Payments Journal

Checks Issued

Date Check No. Amount

5-2 258 $201

5-5 259 284

5-10 260 1,051

5-15 261 540

5-22 262 790

5-24 263 391

5-29 264 360

Using step 2 in the reconciliation procedure list the outstanding checks at May 31. (List checks in order of check number.)

1 Answer

  • Guardado Company

    Statement of Bank Reconciliation

    May 31, xxxx

    Outstanding Checks

    No. 255 $1,194

    No. 260 $1,051

    No. 264 $360

    Total Outstanding Checks $2,605

    Deduct TOC from Balance per Bank

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