Asked by Nicholas Maynard on Apr 26, 2024

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A bank statement shows a balance of $347.72. The check register of the account owner shows an outstanding deposit of $500.00 and outstanding checks of $119.35, $75.00, and $150.00. Compute the adjusted cash balance of the bank statement.​

Bank Statement

A formal accounting by a bank of the adding and subtracting activities that have occurred in one bank account over a stated period of time (usually a month).

Check Register

A personal record book or digital log used to track checks written, deposits made, and the current balance of a checking account.

Outstanding Deposit

A credit that hasn’t yet been recorded by the bank.

  • Analyze financial statements to adjust cash balances.
  • Understand the impact of bank service charges, interest, and NSF fees on account balances.
  • Illustrate the process of reconciling a bank statement with a check register.
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Alexa GriffithApr 29, 2024
Final Answer :
$503.37