In the Process of Reconciling Its Bank Statement for January

question 14

Multiple Choice

In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information:
$\begin{array} { | l | l | } \hline \text { Cash balance per company books on January 30 } & \$ 4,725 \\\hline \text { Deposits in transit at month-end } & { \$ 1,800 } \\\hline \text { Outstanding checks at month-end } & \$ 520 \\\hline \text { Bank service charges } & \$ 25 \\\hline \text { EFT automatically deducted monthly, not yet recorded by Maxi } & \$ 380 \\\hline \text { An NSF check returned on a customer account } & \$ 265\\\hline \\\hline \text { An NSF check returned on a customer account } & \$ 265\\\hline\end{array}$

• A) $4,055
• B) $4,585
• C) $5,335
• D) $4,815
• E) $5,855

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Definitions:

Owned

colloquially refers to having something under one's possession or control, but in internet slang, it also means to decisively defeat or humiliate someone.

1770

A year marked by historical events such as the Boston Massacre, which played a significant role in escalating tensions leading to the American Revolutionary War.

European Products

Goods and commodities that are produced in Europe, known for their quality and innovation, and are often exported to various parts of the world.