The May Bank Statement for Accounting Services Shows a Balance

question 78

Multiple Choice

The May bank statement for Accounting Services shows a balance of $6,300,but the balance per books shows a cash balance of $7,980.Other information includes:
1) A check for $200 to pay the electric bill was recorded on the books as $20.
2) Included on the bank statement was a note collected by the bank for $400 plus interest of $30
3) Checks outstanding totaled $260.
4) Bank service charges were $50.
5) Deposits in transit were $2,140.
-According to the above Scenario.The adjusted cash balance at the end of August should be:

• A)$9,810.
• B)$7,620.
• C)$7,980.
• D)$8,180.

Recognize public network access solutions and protocols.

Describe the differences between wired and wireless networks.

Understand the functionality and importance of network software.

Grasp the basics of network security and encryption.

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Definitions:

Straight-Line Method

A method of calculating depreciation of an asset that allocates an equal amount of depreciation each year over the asset's useful life.

Financial Accounting

The branch of accounting that focuses on the preparation of financial statements for external users.

Extraordinary Gains and Losses

Unusual and infrequent events that significantly affect a company's financial performance, reported separately on the income statement to provide a clearer picture of ongoing operations.