When preparing the bank reconciliation for Mac's Flower Shoppe, the following items were noted by
the accountant on the bank statement for June:
Deposits in transit $1,430; Outstanding checks $580;
Bank service charges $76; and a NSF check returned
by the bank $200. What is the adjusted cash balance
per the books if the accounting records initially
showed a balance of $2,100 on June 30?

If jobs have been undercosted due to underallocation of manufacturing overhead, then cost of goods sold (cogs) is too low and which of the following corrections must be made? a. decrease cogs for double the amount of the underallocation b. increase cogs for double the amount of the underallocation c. decrease cogs for the amount of the underallocation d. increase cogs for the amount of the underallocation

Which of the following would indicate an improvement in a company's financial position, holding other things constant? a. the inventory and total assets turnover ratios both decline.b. the debt ratio increases.c. the profit margin declines.d. the times-interest-earned ratio declines.e. the current and quick ratios both increase.

Which of the following comes after a period of recession in the business cycle? a. stagflation b. a drought c. a boom d. recovery