Carla Company's Cash Balance at the End of the Month

question 20

Multiple Choice

Carla Company's cash balance at the end of the month was $6,500. After comparing the company's records with the monthly bank statement, Carla's accountant identified the following reconciling items: outstanding checks, $800; deposits in transit, $700; bank service charge, $30; NSF check, $500. What is the adjusted bank balance?

• A)$6,600
• B)$5,970
• C)$6,370
• D)The adjusted bank balance cannot be determined from this information.

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Definitions:

Establishing Probability

The process of determining the likelihood that a given proposition or hypothesis is true.

Method Of Equal Alternatives

A method of determining the probability of an event by finding the ratio of favorable outcomes to the total number of possible outcomes.

Equal Alternatives

Choices or options that have the same value or importance.

Subjective Assessment

A method of evaluation based on personal opinions, perspectives, or feelings rather than objective measurements or criteria.