The Calder Company Received a Bank Statement Showing a Balance

question 37

Multiple Choice

The Calder Company received a bank statement showing a balance of $60,300. Reconciling items included outstanding cheques of $1,450 and a deposit in transit of $8,500. What is the company's adjusted bank balance?

• A)$60,300
• B)$58,850
• C)$68,800
• D)$67,350

---

Definitions:

Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded by consumers over a period of time.

Consumer Surplus

The difference between the maximum price consumers are willing to pay and the price they actually pay. It is the net gain derived by the buyers of the good.

Cell-Phone Service

A service provided by telecommunications companies that enables mobile phone users to make and receive calls, texts, and use data.

Utility-Maximizing

A behavioral principle where consumers allocate their income to purchase a mix of goods and services that provides the highest overall utility.