Nilson Company Gathered the Following Reconciling Information in Preparing Its

question 95

Multiple Choice

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

• A)$33,280.
• B)$32,080.
• C)$18,400.
• D)$19,680.

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Definitions:

Markup Percent

The percentage increase on the cost price of goods to determine the selling price, representing the profit margin.

Cost

The amount of money required to purchase, produce, or maintain something, often considered in business and financial contexts.

Markup Percent

The percentage increase on the cost price of goods to arrive at the selling price.

Selling Price

The amount of money for which a product or service is sold to customers.