In Preparing Its Bank Reconciliation for the Month of April

question 210

Multiple Choice

In preparing its bank reconciliation for the month of April 2016 Sells Inc. has available the following information. $\begin{array}{lr}\text { Balance per bank statement, } 4 / 30 / 16 & \$ 40,290 \\\text { NSF check returned with } 4 / 30 / 16 \text { bank statement } & 1,450 \\\text { Deposits in transit, } 4 / 30 / 16 & 10,200 \\\text { Outstanding checks, } 4 / 30 / 16 & 15,060 \\\text { Bank service charges for April } & 60\end{array}$ What should be the adjusted cash balance at April 30 2016?

• A) $33920.
• B) $33980.
• C) $35370.
• D) $35430.

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Definitions:

U.S. Treasury Bills

Short-term government securities with maturities ranging from a few days to 52 weeks, sold at a discount from their face value.

Money Purchase Plan

A type of defined-contribution retirement plan in which the employer's annual contributions are fixed and determined by formula.

Flexible Spending Account Plan

A benefit plan that allows employees to set aside pre-tax dollars for eligible expenses, such as medical or dependent care expenses.