Heath Company Gathered the Following Reconciling Information in Preparing Its

question 139

Multiple Choice

Heath Company gathered the following reconciling information in preparing its July bank reconciliation: $\begin{array}{lr}\text { Cash balance per books, } 7 / 31 & £ 5,500 \\\text { Deposits in transit } & 150 \\\text { Notes receivable and interest collected by bank } & 850 \\\text { Bank charge for check printing } & 20 \\\text { Outstanding checks } & 2,000 \\\text { NSF check } & 170\end{array}$
The adjusted cash balance per books on July 31 is

• A) \( £ 6,160 \).
• B) \( £ 6,010 \).
• C) \( £ 4,310 \).
• D) \( £ 4.460 \).

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Definitions:

Monopolist

A monopolist is a sole provider of a good or service in a market, facing no direct competition, which allows for control over prices.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at a given price.

Price Maker

A firm or entity that has the power to influence the price at which a product or service is sold, typically due to a lack of competition or a unique product offering.

Demand Curve

A visual representation indicating the quantity of a good consumers are ready to purchase at various prices, usually sloping downwards to the right.