The following information pertains to sooner company's cash balance and bank reconciliation as of august 31: company balance before reconciliation $5,000 checks outstanding $2,500 notes collected by the bank $2,200 service fee $50 deposits outstanding $2,000 what is the correct cash balance for sooner company?

(a) $5,150.
(b) $7,650.
(c) $7,150.
(d) $7,250.

The correct cash balance for Sooner Company is "(C) $7,150."

Explanation: The balance of the company before the settlement was $ 5000. The data to take into account to adjust the differences are:

Notes collected by the bank $ 2,200

Service fee $ 50

Therefore: 5000 + 2200 - 50 = $7150

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.