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23 August, 17:06

At july 31, planter company has this bank information: cash balance per bank $7,291, outstanding checks $762, deposits in transit $1,350, and a bank service charge $40. determine the adjusted cash balance per bank at july 31.

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  1. 23 August, 17:32
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    To solve:

    Adjusted cash balance = (Cash balance + deposits in transit) - outstanding checks

    Cash balance = $7,291

    Deposits in transit = $1,350

    Outstanding checks = $762

    Adjusted cash balance = ($7,291 + $1,350) - $762

    Adjusted cash balance = $8,641 - $762

    Adjusted cash balance = $7,879
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