Karlin Company Gathered the Following Reconciling Information in Preparing Its

question 12

Multiple Choice

Karlin Company gathered the following reconciling information in preparing its April bank reconciliation: $\begin{array}{lr}\text { Cash balance per books, } 4 / 30 & \$ 13,200 \\\text { Deposits in transit } & 1,800 \\\text { Notes receivable and interest collected by bank } & 4,440 \\\text { Bank charge for check printing } & 150 \\\text { Outstanding checks } & 9,000 \\\text { NSF check } & 840\end{array}$ The adjusted cash balance per books on April 30 is

• A) $18,450.
• B) $17,640.
• C) $16,650.
• D) $18,330.

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Definitions:

Internal Selling Prices

Internal selling prices refer to the prices set for transactions between departments or divisions within the same company, often used for budgeting and cost allocation purposes.

Real-Time Reporting

A method of financial reporting that provides the most current information possible, without delay.

Flash Reporting

A quick, preliminary reporting method used to provide an immediate view of a company's financial performance before detailed financial statements are available.

Virtual Close

A process in accounting where a company's books can be closed quickly and efficiently, allowing for almost immediate financial reporting.