A Company Received a Bank Statement Showing a Balance of $75,100

question 57

Multiple Choice

A company received a bank statement showing a balance of $75,100. Reconciling items included outstanding checks of $2,250, and a deposit in transit of $9,500. What is the company's adjusted bank balance?

• A)$63,350
• B)$67,850
• C)$82,350
• D)$65,600

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Definitions:

Service

A service is an intangible economic activity offered by one party to another, often involving human or mechanical efforts to meet the needs or wants of the service buyer.

Good

A tangible product or item that consumers purchase to meet their needs or desires.

Product Line

A group of related products under a single brand sold by the same company.

Lifecycle

Describes the stages through which a product, service, or entity passes, typically encompassing introduction, growth, maturity, and decline.