In Preparing Its Bank Reconciliation for the Month of December

question 10

Multiple Choice

In preparing its bank reconciliation for the month of December 2014, Reinhardt Company has the following information available What amount should be reported for cash on the company's December 31, 2014 statement of financial position?

• A) CHF32,800
• B) CHF32,790
• C) CHF32,340
• D) CHF31,200

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Definitions:

GDP Price Index

An economic metric that measures changes in the price level of all goods and services included in Gross Domestic Product.

Nominal Gross Domestic Product

a measure of a country's economic output (all goods and services produced) valued at current market prices, without adjusting for inflation.

Consumer Price Index

is a measure that examines the weighted average of prices of a basket of consumer goods and services, often used to assess inflation.

Annual Rate

Refers to the yearly interest rate or growth rate applied to investments, loans, or any financial product that calculates earnings or payments over a year.