Russel Company Assembled the Following Information in Completing Its March

question 61

Multiple Choice

Russel Company assembled the following information in completing its March bank reconciliation: $$\begin{array} { l r } \text { Balance per bank } & \$ 19,100 \\\text { Outstanding checks } & \$ 3,875 \\\text { Deposits in transit } & \$ 6,250 \\\text { NSF check } & \$ 400 \\\text { Bank service charges } & \$ 125 \\\text { Cash balance per books } & \$ 22,000\end{array}$$ As a result of this reconciliation Russel will

• A)reduce its cash account by $2375.
• B)reduce its cash account by $125.
• C)increase its cash account by $275.
• D)reduce its cash account by $525.

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Definitions:

Remuneration

The payment or compensation received for work or services provided.

Transaction Analysis

The examination of the underlying details and implications of a business transaction to evaluate its impacts on the financial statements and overall financial health of a company.

Target Audience

Refers to a specific group of consumers most likely to want or need a product or service, identified for marketing and product design strategies.

Opportunity Recognition

The process of identifying and analyzing a potentially profitable business venture or investment.