On May 27, You Received Your Bank Statement Showing a Balance

question 27

Multiple Choice

On May 27, you received your bank statement showing a balance of $1,011.18. Your checkbook shows a balance of $1,024.34. Outstanding checks are $225.50 and $388.10. The account earned $88.51. Deposits in transit amount to $705.27, and there is a service charge of $10.00. Calculate the reconciled balance.

• A) $1,384.85
• B) $1,102.85
• C) $859.58
• D) $1,453.18

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Definitions:

Lockouts

A labor relation strategy where employers prevent employees from working during a dispute, typically to enforce terms of employment.

Lost Profits

Lost profits are potential earnings that a business did not realize due to certain events, disruptions, or decisions that impacted its operations negatively.

Wage Income

The earnings received by individuals for their labor or services, typically calculated on an hourly, daily, or monthly basis.

Back-To-Work Order

A directive requiring employees who may have been on strike or not working due to other reasons to return to their duties.