Delco Construction the Following Items Relate to the Company's March

question 152

Multiple Choice

Delco Construction The following items relate to the company's March bank reconciliation:
$\begin{array}{ll} \text { Bank statement balance } &\$ 29,600 \\ \text { Unadjusted cash balance ac cording to company records } &? \\ \text { Deposit in trensit } &2,200 \\ \text { Outstanding checks } &3,100 \\ \text { Bank service charges } &200 \\ \text { Interest earned on the bank account } &100 \\ \text { Customen's NSF check returned by the bank } &300\end{array}$
-Refer to the information provided for Delco Construction.What is the company's adjusted cash balance at March 31st?

• A)$28,700
• B)$29,100
• C)$28,300
• D)$29,600

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Definitions:

Economic Interest

A stake or concern in an economic entity or activity, often referring to the level of investment or involvement an individual or organization possesses in a company or project.

Equity Method

An accounting technique used by companies to record their investments in other companies when they have significant influence but not full control.

Cost Method

An accounting approach used to account for investments, where the investment is recorded at its cost and adjustments are made for dividends received or possible impairments.

Note Disclosure

An explanatory or descriptive information included within financial statements, usually providing details about the basis of preparation, accounting policies, and specifics of certain account balances.