Asked by Tabatha Holmes on Jul 02, 2024

A check register shows a balance of $370.25. The bank statement shows interest of $2.32 credited to the account and a service charge of $7.50 charged against the account. Compute the adjusted cash balance of the check register.

Adjusted Cash Balance

A financial metric representing the amount of available cash after accounting for adjustments such as outstanding checks or deposits in transit.

Check Register

A record book used to keep track of all the checks issued, deposits made, and current balance in a checking account.

Bank Statement

A summary of financial transactions that have occurred over a given period on a bank account.

  • Determine enhanced cash balances by applying or eliminating service charges, interest receipts, deposits, and checks against the balance noted in the statement or check document.
  • Analyze the influence of bank fees, interest rates, and supplementary charges on the aggregate account balance.