30. motocos bank reconciliation as of april 30 had outstanding checks of $2,100. during may motoco issued…

30. motocos bank reconciliation as of april 30 had outstanding checks of $2,100. during may motoco issued $30,500 of checks. the bank statement for the month of may indicated that the bank paid checks amounting to $29,200. what will be the amount of motocos outstanding checks on its bank reconciliation as of may 31? select... $1,300.00 $3,400.00 $0.00 $800.00

30. motocos bank reconciliation as of april 30 had outstanding checks of $2,100. during may motoco issued $30,500 of checks. the bank statement for the month of may indicated that the bank paid checks amounting to $29,200. what will be the amount of motocos outstanding checks on its bank reconciliation as of may 31? select... $1,300.00 $3,400.00 $0.00 $800.00

Answer

Explanation:

Step1: Recall the formula for outstanding - checks

Outstanding checks at the end of the period = Outstanding checks at the beginning of the period+ Checks issued during the period - Checks paid by the bank during the period.

Step2: Substitute the given values

We are given that outstanding checks at the beginning (April 30) = $2,100$, checks issued in May = $30,500$, and checks paid by the bank in May = $29,200$. Using the formula: $2100 + 30500-29200$.

Step3: Calculate the result

$2100+30500 - 29200=32600 - 29200 = 3400$.

Answer:

$3,400.00$