Larson Company Gathered the Following Reconciling Information in Preparing Its

question 94

Multiple Choice

Larson Company gathered the following reconciling information in preparing its August bank reconciliation: $$\begin{array} { l r } \text { Cash balance per books, } 8 / 31 & \$ 34,800 \\\text { Deposits in transit } & 1,200 \\\text { Bank charge for check printing } & 160 \\\text { Outstanding checks } & 16,000 \\\text { NSF check } & 1,360\end{array}$$ Use the following tabular analysis to determine the required adjustments to Larson's accounts:

• A)Cash would increase by $1200.
• B)Accounts Receivable would decrease by $1360.
• C)Accounts Payable would increase by $160.
• D)Cash would decrease by $1520.

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Definitions:

Advertising and Promotion

Activities aimed at increasing awareness, interest, and sales of a product or service through various communication strategies.

Positioning Strategy

A marketing strategy that aims to establish a brand or product in a certain position within the minds of target consumers relative to competitors.

Points of Difference

Unique features or benefits of a product or service that set it apart from competitors in the eyes of consumers.

Competition Analysis

The process of identifying competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service.