Thompson Corporation Gathered the Following Reconciling Information in Preparing Its

question 32

Multiple Choice

Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation: $$\begin{array} { | l | r | } \hline\text { Cash balance per bank, } 10 / 31 & \$ 17,000 \\\hline \text { Note receivable collected by bank } & 4,800 \\\hline \text { Outstanding checks } & 6,500 \\\hline \text { Deposits in transit } & 3,000 \\\hline \text { Bank service charge } & 50 \\\hline \text { NSF check } & 2,300 \\\hline\end{array}$$
Using the above information, determine the cash balance per books (before adjustments) for Thompson Corporation.

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Definitions:

Plant Expansion

The process of increasing the capacity or capability of an existing manufacturing or production facility.

Return On Investment

measures the gain or loss generated on an investment relative to the amount of money invested, indicating the efficiency of the investment.

Residual Income

The net income an investment or project generates above the minimum required rate of return.

Required Rate Of Return

The minimum return an investor expects to achieve from an investment, given its risk level.