The Following Data Are Available for Remas Designs for October

question 153

Multiple Choice

The following data are available for Remas Designs for October: $$\begin{array} { | l | r | } \hline \text { Book balance, October } 31 & \$ 5,600 \\\hline \text { Outstanding cheques } & 584 \\\hline \text { Deposits in transit } & 2,500 \\\hline \text { Service charges } & 75 \\\hline \text { Interest revenue } & 25 \\\hline\end{array}$$ What is the adjusted book balance on October 31 for Remas Designs based on the above data?

• A)$5,500
• B)$5,550
• C)$7,466
• D)$4,966

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Definitions:

Normally Distributed

Describes a distribution of data that forms a symmetric bell curve, indicating that the data follows a normal distribution pattern.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values deviate from the mean.

Mean

The average of a set of values, calculated by summing all the values and then dividing by the count of values.

Normally Distributed

Refers to a statistical distribution that is balanced around the mean, indicating that values close to the mean occur more often than those far from the mean.