The Stuart cash ledger shows $149,300 before reconciliation. The bank collected a $18,750 note plus $410 interest, charged a $80 service fee, and returned an NSF check of $3,150. What adjusted book balance results?
Correct Answer
B) $165,230
Adjusted book balance records bank-side items not yet posted to the contractor's books.
Why This Is the Correct Answer
Adjusted book balance records bank-side items not yet posted to the contractor's books.
Why the Other Options Are Wrong
Option A: $164,820
$164,820 is below the supported result for adjusted book balance; it likely uses the wrong base, period, or account bucket.
Option C: $168,460
$168,460 is above the supported result for adjusted book balance; it likely adds an unsupported amount or compares the wrong financial base.
Option D: $146,070
$146,070 is below the supported result for adjusted book balance; it likely uses the wrong base, period, or account bucket.
Memory Technique
Balance and records live in different drawers; Controller Posts tells which opens.
Reference Hint
Open-book path: tab Builder's Guide to Accounting, 2001 to Section One, Bank Accounts and Reconciliation; use the job ledger figures in the stem and recompute the same accounting measure.
More Business & Finance Questions
The Cedar Key subcontract closeout file requires 44 final releases, and 31 have been received. How many releases are missing?
A Florida GC prepaid $18,000 for annual insurance and expenses it evenly by month. After 7 months have expired, what prepaid asset remains?
The West Miami system access list starts with 22 active users, adds 4, and removes 7. How many active users should remain?
The Winter Park bank review shows a bank balance of $124,600, book balance of $119,400, and known timing items of $3,200. What unexplained difference remains?
The Riverview bank review shows a bank balance of $87,500, book balance of $90,400, and known timing items of $1,600. What unexplained difference remains?
A Satellite Beach contractor had 4 separations during the quarter and an average headcount of 32. What turnover rate should HR report?
A Winter Park startup budgets monthly overhead of $61,500 and wants a 4-month operating reserve. What reserve should be funded?
A Royal Palm Beach customer account has unpaid approved invoices of $126,000. Company policy requires review when unpaid invoices exceed $100,000. What status applies?
A Wildwood contractor had 9 separations during the quarter and an average headcount of 60. What turnover rate should HR report?
A Clermont field group had 64 absence hours out of 1280 scheduled hours. What absence rate should be reported?
People Also Study
Related Study Resources
Previous Question
A Ocoee trade backcharge includes $1,250 cleanup, $2,840 repair, and $310 documentation cost. What backcharge amount should be posted?
Next Question
The Palm Coast payroll file has this timekeeping issue: travel time needs supervisor review before payment. Which HR/payroll control should be used?