The Following Data Were Gathered to Use in Reconciling the Bank

question 49

Multiple Choice

The following data were gathered to use in reconciling the bank account of Savannah Company:? $$\begin{array} { | l | r | } \hline \text { Balance per bank } & \$ 16,750 \\\hline \text { Balance per company records } & 16,125 \\\hline \text { Bank service charges } & 80 \\\hline \text { Deposit in transit } & 2,195 \\\hline \text { NSF check } & 950 \\\hline \text { Outstanding checks } & 3,850 \\\hline\end{array}$$ What is the adjusted balance on the bank reconciliation?

• A) $14,470
• B) $10,705
• C) $15,095
• D) $15,720

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Definitions:

Learning The Rule

Refers to the process of acquiring knowledge about how various elements in a system interact or how certain procedures or principles operate.

Memory Strategy

Techniques or methods used to enhance memory performance, such as mnemonic devices, rehearsal, and chunking.

Memory Span

The number of items, usually words or numbers, that a person can retain and recall in correct order in short-term memory.

Large Numbers

Numerical values that are significantly larger than those commonly encountered in everyday life.