Higgins Company Gathered the Following Reconciling Information in Preparing Its

question 219

Multiple Choice

Higgins Company gathered the following reconciling information in preparing its October bank reconciliation: $\begin{array}{lr}\text { Cash balance per books, } 10 / 31 & \$ 12,600 \\\text { Deposits in transit } & 450 \\\text { Notes receivable and interest collected by bank } & 2,550 \\\text { Bank charge for check printing } & 60 \\\text { Outstanding checks } & 6,000 \\\text { NSF check } & 510\end{array}$ The adjusted cash balance per books on October 31 is

• A) $14,130.
• B) $12,030.
• C) $8,580.
• D) $14,580.

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Definitions:

Job Searching

The process by which individuals seek and find employment opportunities.

Unemployment Insurance Benefits

Payments made by the government to unemployed workers who meet eligibility requirements, designed to provide temporary financial assistance.

Unemployment Rate

The percentage of actively job-seeking, unemployed individuals within the labor force.

Natural Rate of Unemployment

Refers to the level of unemployment consistent with a stable rate of inflation, representing the proportion of the labor force that is unemployed due to factors like job mismatch or natural turnover rather than economic downturns.