Minor Company had checks outstanding totaling 19,200 on its April bank reconciliation. In May, Minor Companyissued checks totaling 64,900 . The May bank statement shows that 47,600 in checks cleared the bank in May. Acheck from one of Minor Company's customers in the amount of 300 was also returned marked NSF. Theamount of outstanding checks on Minor Company's May bank reconciliation should be
a. 28,400
b. 66,800
c. 17,300
d. 36,500
Question 2
Match each of the following terms with the appropriate situation below.
a. callable bonds
b. convertible bonds
c. term bonds
d. serial bonds
______ 1. Tom's Wear issued bonds that can be converted into Tom's Wear stock.
______ 2. Tom's Wear issued bonds that mature in 2011, 2010, 2011, and 2012.
______ 3. Tom's Wear issued bonds that mature in 2015.
______ 4. Tom's Wear issued bonds that can be recalled and redeemed by Toms' Wear beginning in 2011.
