A Company Received a Bank Statement Showing a Balance of $75,000.Reconciling

question 125

Multiple Choice

A company received a bank statement showing a balance of $75,000.Reconciling items included outstanding checks of $2,400 and a deposit in transit of $9,500.What is the company's adjusted bank balance?

• A)$63,100
• B)$67,900
• C)$82,100
• D)$65,500

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Definitions:

Responsiveness

The ability or tendency of an entity or system to react to changes, stimuli, or feedback from the environment.

Complements

Products that are usually consumed jointly (for example, bread and butter, hot dogs and hot dog buns). A decrease in the price of one will cause an increase in demand for the other.

Consumption

The use of goods and services by households or individuals, typically relating to how these actions affect economic demand.

Market Demand

The total amount of a product or service that all consumers in a market are willing and able to purchase at various prices.