Solve the problem.
-A manager of a local restaurant had a bank balance of $3,592.38 on October 1. During October, the manager deposited $58,913.01 received from sales, $2,164.44 received as credits from suppliers, and
$65.59 as a county tax refund. He paid out $23,442.64 to suppliers, $4,419.77 for rent and utilities,
And $10,943.27 for salaries. What was the manager's final balance at the end of October?
A)$61,143.04
B)$18,744.98
C)$25,929.74
D)$22,337.36

Question

Quizplus · Accepted Answer

Starting balance: $3,592.38
Additions: 
$58,913.01 (sales)
$2,164.44 (supplier credits)
$65.59 (county tax refund)
Total additions: $61,143.04
Subtractions: 
$23,442.64 (suppliers)
$4,419.77 (rent and utilities)
$10,943.27 (salaries)
Total subtractions: $38,805.68
Final balance: $3,592.38 + $61,143.04 - $38,805.68 = $25,929.74 Starting balance = $3,592.38
Deposits = $58,913.01+$2,164.44+$65.59 = $61,143.04
Total income = Starting balance + Deposits = $64,735.42
Expenses = $23,442.64+$4,419.77+$10,943.27 = $38,805.68
Final balance = Total income - Expenses = $25,929.74

Therefore, the manager's final balance at the end of October was $25,929.74, as given in choice C.

Solve the Problem. -A Manager of a Local Restaurant Had a Bank Balance