On December 10, You Receive Your Bank Statement Showing a Balance

question 40

Multiple Choice

On December 10, you receive your bank statement showing a balance of $2,979.94. Your checkbook shows a balance of $2,778.88. Outstanding checks are $381.83 and $171.57. The account earned $126.83. Deposits in transit amount to $472.17, and there is a service charge of $7.00. Calculate the reconciled balance

• A) $2,697.65
• B) $3,099.77
• C) $201.06
• D) $2,898.71

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Definitions:

Middle East

A region that broadly includes Western Asia and Egypt, known for its historical, cultural, and political significance as well as its natural resources like oil.

Proprietorship

A type of business enterprise owned and run by one individual with no legal distinction between the owner and the business.

Legal Complications

refer to issues or challenges that arise in the application, interpretation, or enforcement of laws, often leading to disputes or legal actions.

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts and the funds invested in any kind of asset.