Taylor Corp ?? How Much Is Taylor's Adjusted Cash Balance on October

question 3

Multiple Choice

Taylor Corp.identified the following data in preparing a bank reconciliation on October 31, 2016. $$\begin{array} { l r } \text { Bank statement balance } & \$ 29,600 \\\text { Taylor's book balance (before adjustments) } & ? \\\text { Outstanding checks } & 3,100 \\\text { NSF checks } & 300 \\\text { Service charges } & 200 \\\text { Deposits in transit } & 2,200 \\\text { Interest earned on checking account } & 100\end{array}$$ ?? How much is Taylor's adjusted cash balance on October 31, 2016?

• A) $28,700
• B) $29,100
• C) $28,300
• D) $29,600

Explain the legal implications of contracts made under mistake or incorrect assumptions.

Distinguish between lawful and unlawful threats in the context of contract inducement.

Understand the concepts of fraud and misrepresentation in contract law, including their types and effects on contracts.

Identify the elements required to prove fraud in contract law.

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