On October 31,2018,the Bank Statement Shows That Your Company Has

question 145

Multiple Choice

On October 31,2018,the bank statement shows that your company has $12,956.73 in its checking account.You are aware of three outstanding checks that total $2,112.19.During October,2018,the bank rejected two deposited checks from customers totaling $654.19 because of insufficient funds and charged you $12.00 in service fees.You had not yet received notice about the bad checks,but you were aware of and have recorded the $12.00 of service fees.Prior to adjustment on October 31,2018,your Cash account would have a balance of:

• A)$14,402.73.
• B)$15,711.11.
• C)$11,498.73.
• D)$10,202.35.

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Definitions:

Real Estate Broker

A real estate broker is a licensed professional who arranges real estate transactions by matching buyers and sellers, typically earning a commission for their services.

Undisclosed Principal

A person or entity that remains unknown to the third party in a contractual agreement, usually represented by an agent.

Disclosed Principal

In an agency relationship, a principal whose identity is known to the third party at the time of entering into a contract with the agent.

Partially Disclosed Principal

A situation in an agency relationship where the third party knows of the agent's existence but not the identity of the principal.