Quayle Company Gathered the Following Reconciling Information in Preparing Its

question 66

Multiple Choice

Quayle Company gathered the following reconciling information in preparing its August bank reconciliation: $\begin{array}{lr}\text { Cash balance per books, } 8 / 31 & \$ 7,000 \\\text { Deposits in transit } & 300 \\\text { Notes receivable and interest collected by bank } & 1,700 \\\text { Bank charge for check printing } & 40 \\\text { Outstanding checks } & 4,000 \\\text { NSF check } & 340\end{array}$ The adjusted cash balance per books on August 31 is

• A)$8,320.
• B)$8,020.
• C)$4,620.
• D)$4,920.

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Definitions:

Check Authenticity

The process of verifying the genuineness or validity of a document, artwork, or software to ensure it is not counterfeit or pirated.

Debit Transaction

A financial transaction in which money is taken out of a bank account, typically reflecting a purchase or payment.

Smaller Fees

Lesser charges or costs imposed for services, transactions, or regulatory requirements.

MICR Numbers

Magnetic Ink Character Recognition numbers; used primarily on checks for the purpose of easy processing by financial institutions.