Compute the Adjusted Bank Balance on May 31, 2019, from the Following

question 103

Multiple Choice

Compute the adjusted bank balance on May 31, 2019, from the following information: Chequebook balance on May 31 $7,200
Outstanding cheques 500
NSF cheque returned 100
Deposits in transit 250
Service charges 10
Note collected by bank 250

• A) $7,200
• B) $7,340
• C) $6,615
• D) $7,560

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Definitions:

Short-Run Total Cost

The total of all costs incurred in the production of goods or services in the short term, including both fixed and variable costs.

Short-Run Average Cost

The total cost of production (fixed and variable costs) divided by the quantity produced, over the short term where some factors of production are fixed.

Output Quantity

The total amount of goods or services produced by a company or an economy in a specific period.

Marginal Cost

The growth in total expenses incurred from making one more unit of a product or service.