A Bank Statement Shows a Balance of $4,750

question 55

Short Answer

A bank statement shows a balance of $4,750.26. The check register of the account owner shows an outstanding deposit of $2,322.43 and outstanding checks of $1,500.00, $1,250.00, and $350.00. Compute the adjusted cash balance of the bank statement.​

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Definitions:

Equity Method

An accounting technique used to record investments in which an investor has significant influence but does not have majority control, representing the investment's value based on the investor's share of the investee's equity.

Open Market

A system where securities, commodities, or currencies are traded freely between buyers and sellers, with prices based on supply and demand.

Common Shares

Equity securities that represent ownership in a company, entitling holders to a share of the corporation's profit via dividends and voting rights.

Investment Sold

The act of disposing of an investment asset, which can include stocks, bonds, or real estate, usually to generate cash or realize gains.