The Candy Place Received a Bank Statement Showing a Balance

question 97

Multiple Choice

The Candy Place received a bank statement showing a balance of $5,350. What is the adjusted balance if there was a bookkeeper error of $200 in the depositor's favour, two outstanding cheques totalling $720, a service charge of $15, a deposit in transit of $165, and interest revenue of $21 earned by the depositor?

• A)$4,795
• B)$4,995
• C)$5,016
• D)$4,601

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Definitions:

Socially Optimal

A state or outcome in which resources are allocated in the most efficient manner from a societal perspective, maximizing social welfare.

Toll Road

A toll road is a public or private roadway for which a fee is assessed for passage. It generates revenue used for road construction, maintenance, or other transportation expenses.

Clean Air

Refers to the state of the atmosphere when it is free from pollutants and contaminants, enhancing environmental health and quality of life.

Too Little Consumption

A situation where individuals or the economy as a whole are consuming less than optimal, possibly leading to underutilization of resources and a decrease in economic wellbeing.