Dreammaker Kitchens the Following Information Relates to the Company's November

question 67

Multiple Choice

Dreammaker Kitchens The following information relates to the company's November bank reconciliation:
$\begin{array}{ll} \text { Bank statement balance } &\$ 10,700 \\ \text { Unadjusted cash balance from the companys records } &? \\ \text { Deposit in trensit } &2,100 \\ \text { Outstanding checks } &1,200 \\ \text { Bank service charges } &300 \\ \text { Interest earned on the bank account } &100 \\ \text { Customen's NSF check returned by the bank } &400\end{array}$
-Refer to Dreammaker Kitchens.What is the company's adjusted cash balance on November 30th?

• A)$12,200
• B)$11,600
• C)$10,700
• D)$10,100

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Definitions:

RLLP

A Registered Limited Liability Partnership, a form of partnership that offers some partners limited liability regarding the partnership's debts and obligations.

Collateralize

The act of using an asset as security for a loan, ensuring the lender can seize the asset if the borrower defaults.

UPA

Uniform Partnership Act, a standardized set of laws to regulate the formation and management of partnerships in the United States.

Mortgage

A transfer of an interest in property for the purpose of creating a security for a debt.