On June 30, a Company Had $1,924 in Its Cash

question 90

Multiple Choice

On June 30, a company had $1,924 in its cash account according to its general ledger. This included a deposit of $174 that was in transit on June 30th. The June 30th bank statement contained the following information: Assuming outstanding checks of $338, what is the company's adjusted cash balance at June 30th?

• A)$1,840
• B)$1,880
• C)$2,014
• D)$2,178

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Definitions:

Oxygen Atoms

Fundamental particles that make up oxygen gas (O2), essential for cellular respiration and critical to life's biochemical processes.

Saturated Triacylglycerol

A type of fat molecule known as a triglyceride, where all carbon atoms in the fatty acid chains are saturated with hydrogen atoms, resulting in no double bonds.

Fatty Acid Chains

Long hydrocarbon chains with a carboxylic acid group at one end, found in fats and oils, and serve as major components of cell membranes and energy storage molecules.

Double Bonds

Chemical bonds between two atoms involving four bonding electrons instead of the usual two, making the bond stronger and the molecules more reactive.