Olde Shoppe Has the Following Information at August 31: •

question 10

Multiple Choice

Olde Shoppe has the following information at August 31: • Two deposits made on August 31 were not on the bank statement,totaling $5,300.
• The bank collected an EFT payment on a note receivable for $2,750.Of this amount,$150 represented interest on the note.
• August 31 balance in Cash was $11,677.
• The bookkeeper forgot to record check #1578 for $843 which was cashed by the bank on August 15th.
• The balance on the bank statement as of August 31 was $10,500.
• A check printing fee of $40 was shown on the bank statement.NSF check $100.
What is the adjusted book balance at August 31?

• A)$11,667
• B)$13,444
• C)$13,584
• D)$14,427

---

Definitions:

Organization Expense

Organization expense refers to the costs associated with forming a business entity, such as legal fees, filing fees, and costs of issuing stock.

Paid in Capital in Excess

Financial capital received from investors above the par value of the shares issued, also known as additional paid-in capital.

Common Stock

Equity ownership in a corporation, giving holders voting rights and a share in the company’s profits through dividends.

Par Value

The face value of a bond or stock as stated by the issuing company, which does not necessarily match its market value.