Taylor Corp ?? What Is the Net Amount of the Adjustments to on October

question 94

Multiple Choice

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

• A) No amounts need to be recorded
• B) $400 increase
• C) $400 decrease
• D) $900 decrease

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Definitions:

Gross Domestic Product

The total market value of all final goods and services produced within a country in a given period, used as an indicator of economic health.

Health Care

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Nations

Large groups of people bound together by common languages, territories, histories, and sometimes religions.

Impoverished

Describing a condition of limited financial resources, where basic needs such as food, clothing, and shelter may not be adequately met.