A company is reconciling it\'s cash balance. It\'s bank balance is $10,200. The

Question

A company is reconciling it's cash balance. It's bank balance is $10,200. The company has deposits in transit of $1,200 and outstanding checks of $4,400. The company's bank statement reveals a collection of $110 and fees of $45. Calculate the company's adjusted cash balance. A company is reconciling it's cash balance. It's bank balance is $10,200. The company has deposits in transit of $1,200 and outstanding checks of $4,400. The company's bank statement reveals a collection of $110 and fees of $45. Calculate the company's adjusted cash balance.

Explanation / Answer

Answer: Calculation of the Adjusted cash Balance:

Adjusted cash balance=cash balance as per bank+Deposit in transit-Outstanding check

=10200+1200-4400

=7000

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