If the Month-End Bank Statement Shows a Balance of $54,000

question 118

Multiple Choice

If the month-end bank statement shows a balance of $54,000, outstanding checks are $18,000, a deposit of $6,000 was in transit at month end, and a check for $750 was erroneously charged by the bank against the account, the correct balance in the bank account at month end is

• A) $41,250.
• B) $42,750.
• C) $30,750.
• D) $65,250.

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Definitions:

Social Animals

Term describing beings that are naturally inclined to live in communities or groups, relying on interaction with others of their species for survival and wellbeing.

Mediation

A process or technique by which a third party helps disputing parties find a mutually satisfactory solution to their conflict.

Alexander Graham Bell

Known as the inventor of the telephone, he was a key figure in the development of communication technology in the 19th century.

Preservation of Knowledge

The act of safeguarding and maintaining information or skills through various means over time.