At April 30, Mareska Company Has the Following Bank Information

question 205

Multiple Choice

At April 30, Mareska Company has the following bank information: cash balance per bank $4,600; outstanding checks $280; deposits in transit $550; credit memo for interest $10; bank service charge $20. What is Mareska's adjusted cash balance on April 30?

• A) $4,860
• B) $4,880
• C) $4,330
• D) $4,870

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Definitions:

Protectionism

Economic policies and measures taken by a government to protect its domestic industries from foreign competition by imposing tariffs, quotas, or regulations.

Import Quota

A governmental limit on the quantity of a certain type of good that can be imported into a country, used to protect domestic industries.

Trade Protection

Measures implemented by countries to protect their domestic industries from foreign competition, such as tariffs and quotas.