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

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Definitions:

Money Income

The total amount of monetary earnings or receipts over a specified period, including wages, salaries, profits, and other financial gains.

Cell Phone Payment

A method of payment using mobile technology to make electronic transactions directly from a cell phone.

Thomas Hobbes

A 17th-century English philosopher best known for his work on political philosophy, especially as articulated in his book "Leviathan," where he discusses the structure of society and legitimate government.

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is a tax on spending on goods and services imposed either at the point of sale, collected as a sales tax, or as part of a VAT (value added tax) system.