Bishop Company Wrote Checks Totaling $51240 During October (Its First

question 190

Multiple Choice

Bishop Company wrote checks totaling $51240 during October (its first month of operations) and $55950 during November.$48720 of these checks cleared the bank in October and $54660 cleared the bank in November.What was the amount of outstanding checks on November 30?

• A)$3810.
• B)$690.
• C)$1830.
• D)$5940.

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Definitions:

Nonprofit Organization

An organization whose primary goal is not to make a profit but to benefit the public or a specific group of people.

Financial Remuneration

Payment for work or services, including salaries, wages, bonuses, or other forms of compensation.

Exchange

The trade of things of value between buyer and seller so that each is better off after the trade.

MBA

Master of Business Administration, a graduate degree that focuses on business administration and investment management.