The Following Information Is Needed to Reconcile the Cash Balance

question 85

Multiple Choice

The following information is needed to reconcile the cash balance for Fire Steel Inc. • A deposit of $5,800 is in transit.
• Outstanding checks total $1,500.
• The book balance is $6,800 at February 28, 2013.
• The bookkeeper recorded a $1,740 check as $17,400 in payment of the current month's rent.
• The bank balance at February 28, 2013 was $18,000.
• A deposit of $400 was credited by the bank for $4,000.
• A customer's check for $3,700 was returned for nonsufficient funds.
• The bank service charge is $60.
What was the adjusted bank balance?

• A)$18,720
• B)$18,700
• C)$18,820
• D)$18,060

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Definitions:

Analytical Intelligence

The ability to analyze, evaluate, judge, compare, and contrast situations; part of Sternberg's triarchic theory of intelligence.

Spearman's General Intelligence

The theory that cognitive abilities have a general factor (g) that influences performance on mental tests.

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Natural talents or capacities that an individual possesses from birth, not acquired through learning or experience.

Adaptive Traits

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