The Following Information Was Taken from the Bank Reconciliation for Mooner

question 25

Multiple Choice

The following information was taken from the bank reconciliation for Mooner Sooner Inc.at the end of 2012: Bank balance: $8,000
Checks outstanding: $5,800
Note collected by the bank: $1,500
Service fee: $20
Deposits outstanding: $4,000
NSF check (bad check) returned for $300
What is the correct cash balance that should be reported in Mooner Sooner's balance sheet at the end of 2012?

• A)$10,200.
• B)$7,400.
• C)$6,200.
• D)$6,160.

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Definitions:

Alcoholics Anonymous (AA)

A peer-led support group program designed to help individuals recover from alcoholism through a twelve-step program.

Harm-Reduction Approach

A strategy aimed at minimizing the negative health, social, and legal impacts associated with various human behaviors, without necessarily eliminating the behaviors.

Sponsorship

The provision of support, resources, or funding to an individual or event by an organization or individual, often for promotional purposes.