The Ending Balance on the Bank Statement for December Is

question 49

Multiple Choice

The ending balance on the bank statement for December is $1,425.33.The company has outstanding cheques of $263.35, outstanding deposits of $729.61, and incurred bank service fees of $12.00 during the month.The adjusted cash balance for the company as at December 31 is:

• A)$947.07
• B)$1,891.59
• C)$1,879.59
• D)$1903.59

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Definitions:

Job-Order Costing

An accounting method that tracks costs individually for each job, suitable for businesses that produce custom products or services.

Automated Bandsaw

A type of sawing machine equipped with a blade in the form of a continuous band and automated for efficient cutting operations.

Unused Capacity

Represents resources or facilities available but not currently being utilized to their full potential in the production process.

Job-Order Costing

A cost accounting system in which costs are assigned to specific jobs or batches, useful in industries where products or services are customized.