New Store Has the Following Information at August 31: ∙

question 169

Multiple Choice

New Store has the following information at August 31: ∙ Two deposits made on August 31 were not on the bank statement, totaling $5300.
∙ The bank collected an EFT payment on a note receivable for $2,750. Of this amount, $150 represented interest on the note.
∙ August 31 balance in Cash was $12,987.
∙ The bookkeeper forgot to record check #1578 for $843 which was cashed by the bank on August 15th.
∙ The balance on the bank statement as of August 31 was $11,800.
∙ A check printing fee of $40 was shown on the bank statement. NSF check $100.
∙ Checks #1572, 1606, and 1548, totaling $2346, were not shown on the bank statement, even though the company had sent the checks.
What is the adjusted bank balance at August 31?

• A)$14,410
• B)$15,941
• C)$14,754
• D)$16,960

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Definitions:

Individual Performance

Individual performance is the measure of how well a person accomplishes their tasks or goals in a specific context, such as work or sports.

Group Polarization

A tendency for group discussion to shift group members toward an extreme position.

Extreme Position

Adopting a stance or opinion that is far from the moderate or average view, often without considering compromise.

Social Facilitation

The tendency for people to perform differently, usually better, when in the presence of others than when alone.