The Following Information Was Taken from the Bank Reconciliation for Mooner

question 79

Multiple Choice

The following information was taken from the bank reconciliation for Mooner Sooner Inc.at the end of the year:
Bank balance: $8,000
Checks outstanding: $5,800
Note collected by the bank: $1,500
Service fee: $20
Deposits outstanding: $4,000
NSF check (bad check) returned for $300
What is the correct cash balance that should be reported in Mooner Sooner's balance sheet at the end of the year?

• A)$10,200.
• B)$7,400.
• C)$6,200.

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Definitions:

Bourgeoisie

This term describes the middle class in capitalist societies, historically seen as the social class that owns the means of production.

Marx

Karl Marx, a 19th-century philosopher, economist, and political theorist known for his theories about capitalism and communism.

Social Mobility

The act of moving single persons, family units, or collective groups across different levels within a structured social ladder or ranking system.

Upward Mobility

The ability or opportunity for individuals or groups to improve their economic status or social class.