Calculate, from the Following Information Accumulated by Vera Freese, the Adjusted

question 152

Multiple Choice

Calculate, from the following information accumulated by Vera Freese, the adjusted cash balance at the end of April. Bank statement ending cash balance $3,000
General ledger cash balance ending 4,250
Bank monthly service charge 45
Deposits in transit 2,500
Outstanding cheques 1,500
NSF cheque returned with bank statement 205

• A) $3,000
• B) $4,250
• C) $4,000
• D) $5,500

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Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, giving shareholders voting rights and a share in the company's profits through dividends.

Par Value

Par value is a nominal value assigned to a security or stock, representing its minimum price as stated on the certificate or indicated in the charter.

Stock Listing

Information regarding a company's shares that are available for trading on an exchange.

Shares Sold

The quantity of individual stocks that have been purchased by investors and are on the market.