In Comparing the Canceled Checks on the Bank Statement with the Entries

question 41

Multiple Choice

In comparing the canceled checks on the bank statement with the entries in the accounting records,it is found that check number 4239 for November's rent was correctly written and drawn for $7,390,but was erroneously entered in the accounting records as $3,790.When preparing the November bank statement,the company should:

• A)Deduct $3,600 from the book balance of cash
• B)Add $3,600 to the bank statement balance
• C)Add $7,390 to the book balance of cash
• D)Deduct $3,600 from the bank statement balance
• E)Add $3,600 to the book balance of cash

---

Definitions:

Favorable Exchanges

Interactions or transactions that result in positive outcomes for the participants, often characterized by mutual benefit.

Low Creativity

Describes a situation or individual experiencing a lack of innovative or original thinking.

Work Groups

Work groups consist of individuals who are brought together in a professional setting to achieve specific tasks or goals, often requiring collaboration and coordination among members.

Support

Assistance or encouragement provided to individuals or entities, often aimed at helping them overcome challenges or achieve goals.