Heath Company Gathered the Following Reconciling Information in Preparing Its

question 37

Multiple Choice

Heath Company gathered the following reconciling information in preparing its July bank reconciliation: The adjusted cash balance per books on July 31 is

• A) $6,160.
• B) $6,010.
• C) $4,310.
• D) $4,460.

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Definitions:

Par Value

Par value is the nominal or face value of a bond, share of stock, or other financial instrument, as stated by the issuer.

Articles of Incorporation

A document filed with a state by the founders of a corporation detailing the major components of a company, such as its objectives, structure, and planned operations.

Authorized Stock

The maximum amount of stock that a corporation is legally permitted to issue, as authorized by its corporate charter.

State Charter

is an official authorization for the creation and operation of a corporation, bank, or other organization within a specific state.