While Preparing the April 30th Bank Reconciliation for the Checking

question 34

Multiple Choice

While preparing the April 30th bank reconciliation for the checking account for Calvin Corporation, the accountant identified the following items: What amount will Calvin report as its actual cash balance at April 30th?

• A) $12,385
• B) $12,500
• C) $14,885
• D) $17,385

---

Definitions:

UCC's Statute

A legal guideline adopted to harmonize the law of sales and other commercial transactions across the United States.

Price Term

A condition in a contract specifying the amount to be paid for the goods or services.

Collateral Promise

A secondary promise that is ancillary (subsidiary) to a principal transaction or primary contractual relationship, such as a promise made by one person to pay the debts of another if the latter fails to perform. A collateral promise normally must be in writing to be enforceable.

Before Marriage

Refers to the period or status of individuals' lives before entering into a legally recognized marital union.