Fairly Company Gathered the Following Reconciling Information in Preparing Its

question 101

Multiple Choice

Fairly Company gathered the following reconciling information in preparing its April bank reconciliation: $\begin{array}{lr}\text { Cash balahce per books, 4/30 } & \$ 4,400 \\\text { Deposits in transit } & 600 \\\text { Notes receivable and interest collected by bank } & 1,480 \\\text { Bank charge for check printing } & 50 \\\text { Outstanding checks } & 3,000 \\\text { NSF check } & 280\end{array}$ The adjusted cash balance per books on April 30 is

• A)$6,150.
• B)$5,880.
• C)$5,550.
• D)$6,110.

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Definitions:

Selling Price

The amount for which a product or service is sold to the customer.

Special Order

An order that is outside a company's normal production routine, often requiring special pricing, materials, or production scheduling.

Financial Indifferent

A state where different options present the same financial value or outcome, leaving the decision-maker indifferent in financial terms.

Manufacturing Capacity

The total amount of production a manufacturing facility can achieve within a specific period, considering limitations like machinery and labor.