Damon Company receives its monthly bank statement, which reports a balance of $1,850. After comparing this to the company’s cash records, Damon’s accountants determine that deposits outstanding total $3,600 and checks outstanding total $3,850.
Calculate the reconciled bank balance for cash.

The reconciled bank balance for the cash amounts to $1,600

Explanation:

The reconciled bank balance for the cash would be computed as:

= Bank statement balance + Deposits outstanding - Checks outstanding

where

Bank statement balance amounts to $1,850

Deposits outstanding amounts to $3,600

Checks outstanding  amounts to $3,850

Putting the balances above:

Reconciled bank balance for cash = $1,850 + $3,600 - $3,850

= $5,450 - $3,850

= $1,600

Therefore, the adjusted bank statement balance amounts to $1,600

a progressive tax is a tax that imposes a lower tax rate on low-income earners compared to those with a higher income, making it based on the taxpayer's ability to pay. that means it takes a bigger percentage from high income earners than it does from low income people.

answer; at prices that violate government price regulations;