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.
Learning Objectives
- 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.