The April 30,2012 Bank Statement for Tuttle Corporation Shows an Ending

question 66

Multiple Choice

The April 30,2012 bank statement for Tuttle Corporation shows an ending balance of $34,451.The unadjusted cash account balance was $28,350.The accountant for Tuttle gathered the following information: 1.April's deposit in transit was $4,240
2) The bank statement reports a service charge of $39
3) A credit memo included in the bank statement shows interest earned of $95
4) Outstanding checks totaled $10,935
5) The bank statement included a customer's $650 NSF check deposited in April
What is the true cash balance as of April 30,2012?

• A) $27,106
• B) $27,756
• C) $31,901
• D) $31,996

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Definitions:

Foreign Investments

Investments made by individuals, companies, or governments in business interests located in another country, outside of the investor's own country.

Globalization

The process by which businesses, cultural concepts, or technologies spread worldwide, leading to increased interconnectedness and interdependence among the world's economies, cultures, and populations.

McDonaldization

A concept that describes the process by which principles of the fast-food industry, like efficiency, predictability, and control, dominate other sectors of society.

Global Poverty

The condition where individuals or communities lack the financial resources to meet basic living standards around the world.