A Bank Statement Shows a Balance of $8,445 at June

question 156

Multiple Choice

A bank statement shows a balance of $8,445 at June 30.The bank reconciliation is prepared and includes outstanding checks of $2,790,deposits in transit of $1,350,and a bank service charge of $30.Among the paid checks returned by the bank was check no.900 in the amount of $600,which the company had erroneously recorded in the accounting records as $60.The "adjusted cash balance" at June 30 is:

• A)$6,975.
• B)$6,465.
• C)$7,005.
• D)$7,575.

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Definitions:

Environmental Changes

Pertains to alterations in the external surroundings that impact organizations, including ecological, regulatory, and technological shifts.

Emergent Strategy

A strategy that evolves over time in an organization, often as a response to unexpected opportunities and challenges, rather than being planned from the start.

Incremental Changes

Small, gradual modifications or adjustments made in a process, system, or policy.

Discarded Strategy

A strategy that has been abandoned or rejected after analysis due to it being infeasible, ineffective, or misaligned with organizational objectives.