Rodgers Company Gathered the Following Reconciling Information in Preparing Its

question 156

Multiple Choice

Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation. Calculate the adjusted cash balance per books on May 31.
$\begin{array}{|l|r|}\hline \text { Cash balance per books, } 5 / 31 & \$ 5,400 \\\hline \text { Deposits in transit } & 375 \\\hline \text { Notes receivable and interest collected by bank } & 650 \\\hline \text { Bank charge for check printing } & 40 \\\hline \text { Outstanding checks } & 2,400 \\\hline \text { NSF check } & 140 \\\hline\end{array}$

---

Definitions:

Contractual Agreement

A legally binding contract between two or more parties outlining the terms and conditions of their arrangement.

Financial Statements

Documents that provide an overview of a company's financial condition, including the balance sheet, income statement, and cash flow statement.

Joint Arrangement

An agreement between two or more parties to undertake an economic activity that is subject to joint control.

Controlling Interest

Ownership of a portion of a company that is large enough to influence or control its operations and decisions, typically over 50% of the voting rights.