Using the Following Data, Compute the Book Balance for Marrow

question 183

Essay

Using the following data, compute the book balance for Marrow Company before the preparation of a bank reconciliation on January 31, 2019:
- The bank statement reveals a balance of $3,650.59.
- The bank statement indicates service charges of $40.50.
- Outstanding cheques on January 31, 2019, amount to $10,600.49.
- Deposits in transit on January 31, 2019, amount to $15,685.00.
- The bookkeeper mistakenly recorded a $525 cheque payment to a vendor as $52.50.
- The bank mistakenly recorded a deposit of $5,000 as $500.

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Definitions:

False Memories

Memorable events that did not actually happen or are distorted recollections of what happened.

Neisser

Refers to Ulric Neisser, considered the father of cognitive psychology, focusing on perception and memory.

Memory Processes

The actions or steps your brain takes to acquire, store, retain, and later retrieve information and past experiences.