The consumer price index (CPI) is a measure of percentage change in the price of a basket of good and services consumed by households.
Another simple definition could be…
consumer price index (CPI) is a measure of the average change in prices over time in a fixed market basket of good and services
Answer:
The amount should the bank report = $ 21725
Explanation:
Entries:
3.Dr accounts payable 23375
Cr Bank 23375
4. Dr Bank 7500
Cr Account receivable 7500
5. Dr Bank 900
Cr Accounts payable 900
(Error in check)
6. Dr Bank charges 45
Cr Bank 45.
(To record bank charges)
Creative Design co
Bank Reconciliation statement
$
Balance as per bank statement as Aug -20Y6 = 37600
<u>Adjustment:</u>
Add: Deposit in transit = 7500
Less: Outstanding checks = (<u>23375</u>)
Adjusted balance <u>21725</u>.
Balance as per Cash book = 20870
Less : Bank charges = (45)
Add: Error in check = <u>900</u>
Adjusted Balance <u>21725</u>
The correct answer is a yellow dashed line. I hope that this helps!!!
