The Following Information Is Needed to Reconcile the Cash Balance

question 58

Multiple Choice

The following information is needed to reconcile the cash balance for Woods Paper Products. • A deposit of $5,794.62 is in transit.
• Outstanding cheques total $1,533.25.
• The book balance is $5,695.62.
• The bookkeeper recorded a $1,524.00 cheque as $15,240 in payment of the current month's rent.
• The bank balance at February 28, 2008 was $16,500.25.
• A deposit of $300 was credited by the bank for $3,000.
• A customer's cheque for $1,280 was returned for non-sufficient funds.
• The bank service charge is $70.
What was the adjusted bank balance?

• A)$6,472.38
• B)$18,061.62
• C)$9,355.63
• D)$14,938.88

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Definitions:

Foramen Ovale

An opening in the septum between the two atria of the heart in a fetus, which normally closes soon after birth.

Fetal Circulation

The circulatory system in a fetus that includes special structures like the umbilical cord, ductus arteriosus, and foramen ovale, facilitating the exchange of oxygen and nutrients between the fetus and mother.

Arterial Duct

A blood vessel in fetuses that connects the pulmonary artery to the descending aorta, allowing blood to bypass the lungs.

Umbilical Cord

Cord connecting the fetus to the placenta, through which blood vessels pass.