Erin Has a Balance of $1,150

question 17

Multiple Choice

Erin has a balance of $1,150.34 in her check register.On her statement,the balance of her account is $844.93.Not reported on the bank statement are deposits of $125.56,$50,and $212.34.There are outstanding checks in the amount of $15 and $78.25 and an ATM withdrawal of $40.After Erin reconciles her check register with her statement,what entry does she need to make in her register?

• A) Adjusting entry of $101.76
• B) Adjusting entry of -$101.76
• C) Adjusting entry of $50.76
• D) Adjusting entry of -$50.76

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or offer a service at a lower opportunity cost than other entities, leading to more efficient trade possibilities.

Production

Production refers to the process of combining various material inputs and immaterial inputs (plans, knowledge) to make something for consumption (output).

Coolers

Devices or containers used to keep items cool or cold, often used for food and beverages.

Radios

Electronic devices designed for receiving and sometimes transmitting sound broadcasts via electromagnetic waves.