Question

At August 31, Coffman Company has this bank information: cash balance per bank $6,450; outstanding checks $2,762; deposits in transit $1,700; and a bank service charge $20. Determine the adjusted cash balance per bank at August 31, 2018. Adjusted cash balance per bank $

Answer 1

Check the explanation

Step-by-step explanation:

The Adjusted Cash Balance stands for the sum of money you are to have in your bank account, supposing each and every one of the transactions you've entered in your data are accurate.

The below diagram representation is the adjusted cash balance per bank at August 31, 2018.

Statement showing adjusted cash Balance

Cash Balance as per Book 6,450

Deposit in Transit 1,700

Less: Outstanding Cheque -2,762

Adjusted Cash Balance 5,388