37. The objectives of internal control include to ensure: A. The business will be profitable B. Brand awareness C. Reliable financial reporting D. Reduction of costs to the greatest extent possible 38. Bank reconciliations should be prepared periodically because A. The firm must understand the differences between bank statements and company books due to timing differences or potential errors B. the bank has not recorded all of its transactions C. The firm must ensure both balances match perfectly D. The bank must make sure that its records are correct 39. In a bank reconciliation, adjustments done to the company's side include: A. errors made by the bank B. NSF Checks C. Deposits in transit D. Outstanding checks 40. In a bank reconciliation, adjustments done to the banks' side include: A. Interest collected by the bank B. NSF Checks C. Deposits in transit D. Bank fees 41. Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation Calculate the adjusted cash balance per books on May 31. Cash balance per books, 5/31 Deposits in transit Notes receivable and interest collected by Bank charge for check printing Outstanding checks NSF check A. $6,060 B. $6,460 C. $8,860 D. $8,460 $6.000 400 600 40 2,400 100