Dance Town Academy the Items Listed Below Were Identified While

question 79

Multiple Choice

Dance Town Academy The items listed below were identified while preparing a bank reconciliation for the company's checking account as of March 31,2013.
$\begin{array}{ll}\text { Cash balance according to the general ledger } & ? \\\text { Bank statement balance } & \$ 18,500 \\\text { Outstanding checks } & 2,700 \\\text { Customer's bounced check } & 350 \\\text { Bank service charges } & 100 \\\text { Deposits in transit } & 1,000 \\\text { Interest earned on the checking account } & 60\end{array}$
-Refer to Dance Town Academy.Determine the amount of the company's adjusted cash balance.

• A)$16,800
• B)$20,200
• C)$ 1,700
• D)Cannot be determined

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Definitions:

Long Run

A period wherein all factors of production and costs are variable, allowing firms to adjust all inputs to reach a desired output level.

Short Run

The short run in economics is a period during which at least one factor of production is fixed, limiting the ability of businesses to adjust to market changes fully.

Average Fixed Cost

The fixed costs (costs that do not vary with output) divided by the quantity of output produced.

Marginal Cost

The expense addition due to the manufacture of one more product or service unit.