Use the Following Data to Answer the Question Presented Below

question 145

Multiple Choice

Use the following data to answer the question presented below for Raines Corp.'s preparation of a bank reconciliation on October 31, 2016: $$\begin{array} { l r } \text { Bank statement balance } & \$ 30,700 \\\text { Raines' book balance (before adjustments) } & ? \\\text { Outstanding checks } & 4,200 \\\text { NSF checks } & 400 \\\text { Service charges } & 300 \\\text { Deposits in transit } & 3,100 \\\text { Interest earned on checking account } & 100\end{array}$$ ? ?What is the adjusted cash balance on October 31, 2016?

• A) $29,600
• B) $30,100
• C) $30,200
• D) $30,700

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Definitions:

Brokerage Commission

The fee charged by a broker for executing transactions or providing specialized services.

Outdoor Parking

An area designated for the parking of vehicles that is not covered or enclosed, typically found outside of buildings or in open spaces.

Fences

Physical structures that are erected to enclose or divide areas of land, often considered as land improvements in an accounting context.

Depreciation

The process of allocating the cost of a tangible asset over its useful life, reflecting wear and tear over time.