Create an outstanding checks list for Madison at the end of May. Round your answen Madison Company May 31 Dutstanding Checks List Check # Amount
Create an outstanding checks list for Madison at the end of May. Round your answen Madison Company May 31 Dutstanding Checks List Check # Amount
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 11EA: Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book balance:...
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Transcribed Image Text:1. Create an outstanding checks list for Madison at the end of May. Round your answers to two decimal places.
Madison Company
May 31
Outstanding Checks List
Check #
Amount
Total
2. What is the total amount of checks that cleared the bank (written in May)? Round your answer to two decimal places.
%24
Transcribed Image Text:The following information is from Madison Corporation's accounting records for May. Check #3269 was returned as a double payment and voided. Checks that have not cleared the
bank include #3252, #3260, and series #3275-3278.
Check #
Amount
Check #
Amount
3247
$ 32.64
3263
$ 24.87
3248
400.00
3264
45.00
3249
309.22
3265
33.78
3250
256.00
3266
756.77
3251
3,212.17
3267
84.34
3252
56.89
3268
789.00
3253
98.02
3269
48.90
3254
47.55
3270
34.41
3255
1,124.77
3271
872.00
3256
250.00
3272
22.00
3257
68.00
3273
562.38
3258
215.56
3274
512.00
3259
38.55
3275
603.50
3260
92.65
3276
67.00
3261
44.61
3277
301.61
3262
72.96
3278
47.88
In addition to the above list of the checks, Madison had check #2264 for $32.98 and check #2655 for $45.99 outstanding previously that have not cleared.
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