Mojo Ltd Received Its Monthly Bank Statement Showing a Balance

question 7

Multiple Choice

Mojo Ltd received its monthly bank statement showing a balance of $27 629 Cr at 31 January. On this date cash received from ratepayers and not yet deposited at the bank totalled $4321 and outstanding cheques were $857. The amount to appear as cash at bank on the 31 January balance sheet is:

• A) $22 451.
• B) $28 486.
• C) $31 093.
• D) $24 165.

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Definitions:

Expenditures

Money spent by a business in its operation to generate income.

Utilities Industry

Industries that provide essential public services such as water, electricity, and natural gas.

Rate Formulas

Mathematical expressions used to calculate rates, such as interest rates or return rates, based on specific inputs.

Total Allowed Revenues

The maximum revenue that a regulatory authority permits a company to earn within a specific time period, often seen in utilities or other regulated industries.