Border Company's Cash Account Had a Balance of $962 on August

question 42

Multiple Choice

Border Company's cash account had a balance of $962 on August 31.This included a bank deposit of $87 that was in transit on the 31st.The August 31 bank statement contained the following information: $$\begin{array} { l r } \text { Bank Statement Balance } & \$ 1,089 \\\text { NSF check } & 16 \\\text { Bank Service Charge } & 7 \\\text { Collection of notes receivable } & 68\end{array}$$ Border also had checks outstanding of $169.What is Border's adjusted cash balance at August 31?

• A) $ 920
• B) $ 940
• C) $1,007
• D) $1,089

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Definitions:

Minerals

Naturally occurring substances, usually inorganic, with a defined chemical composition and crystalline structure.

Crystalline Rock

A rock composed of interlocking minerals that grew together; usually formed in high-temperature environments by crystallization of magma, by metamorphism, or by precipitation from hot water.

Clastic Rock

Sedimentary rocks that are composed of fragments or clasts of pre-existing minerals and rock.

Crystalline Rock

Rock characterized by the presence of crystals or a granular texture, typically formed through the cooling and solidification of magma or lava.