In Preparing Its Bank Reconciliation for the Month of April

question 89

Multiple Choice

In preparing its bank reconciliation for the month of April 2015, Haskins, Inc. has available the following information. What should be the adjusted cash balance at April 30, 2015?

• A)$34,410.
• B)$34,470.
• C)$35,760.
• D)$35,820.

---

Definitions:

Substitute Goods

Products or services that can be used in place of each other. When the price of one falls, the demand for the other product falls; conversely, when the price of one product rises, the demand for the other product rises.

Cross Elasticity

A measure of how the quantity demanded of one good responds to a change in the price of another good, indicating the degree of substitutability or complementarity between them.

Percentage Change

A mathematical calculation that shows how much a quantity has increased or decreased in percentage terms over a specific period.

Cross Elasticity

An indicator of the sensitivity of demand for a product to fluctuations in the price of a different product.