Citizen Bank Sent a Bank Statement to Bane Co

question 94

Multiple Choice

Citizen Bank sent a bank statement to Bane Co. showing an ending balance of $1,480. On the bank statement there was a service charge of $20. The bookkeeper of Bane Co. noticed in the reconciliation process a deposit in transit of $200 along with checks outstanding of $300. Complete the reconciliation for Bane assuming a beginning balance of $1,400.

• A)$1,830.00
• B)$1,138.00
• C)$1,380.00
• D)$1,360.00
• E)None of these

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Definitions:

Dreck Paintings

Refers metaphorically to artwork considered of low quality or value, often created without genuine effort or artistic integrity.

Interest Rate

The percentage charged or paid for the use of money on a yearly basis, often expressed as an annual percentage rate.

Market Value

The current price at which an asset or service can be bought or sold in an open market.

Interest Rate

The cost of borrowing money or the return on investment for savings and loans, expressed as a percentage of the principal.