Homework Answers
Adjusted Balance is calculated as follows:
Cash Balance as per Bank = $8925
Less: Outstanding checks = $790
Add: Deposits in Transit = $1,285
Adjusted Cash balance as per bank = $9,420
Hence, the answer is $9,420
Note: The bank service charge has already been deduced from balance as per bank and needs to be adjusted in balance as per books as it is an omission in the books
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c.
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