The Following Information Is Available for Andersen Company for the Month

question 130

Multiple Choice

The following information is available for Andersen Company for the month ending 30 June 2014. • Balance per the bank statement is $10 241.43.
• Balance per books is $9 745.06.
• cheque #506 for $1 948.52 and cheque #510 for $1 800.25 were not shown on the 30 June bank statement.
• A deposit in transit of $5 113.40 had not been received by the bank when the bank statement was generated.
• A bank debit memo indicated a dishonoured cheque in the amount of $79 written by Bruce Garrett to Andersen Company on 13 June.
• A bank credit memo indicated a bill collected by the bank of $1 900 and interest revenue of $75 on 20 June.
• The bank statement indicated service charges of $35.
What is the adjusted book balance?

• A)$11 606.06
• B)$7 971.29
• C)$11 109.69
• D)$7 884.06

---

Definitions:

Industry Life Cycle

The stages through which an industry goes from its inception to its decline, typically categorized as introduction, growth, maturity, and decline.

Necessities

Basic needs required for sustaining human life, such as food, water, shelter, and clothing.

Income

Money received, especially on a regular basis, for work or through investments.

Industry Life Cycle

A concept that describes the stages of growth and development that an industry goes through from inception, through growth, maturity, and eventually decline.