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Annapolis Company's bank statement indicated an ending cashbalance of $9,640. Alpha's accountant discovered that outstanding...

Annapolis Company's bank statement indicated an ending cash balance of $9,640. Alpha's accountant discovered that outstanding checks amounted to $615 and deposits in transit were $840. Additionally, the bank statement showed service charges of $45. What is the correct adjusted ending cash balance

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Expert Solution

Ending cash balance = $9,640

Outstanding checks = $615

Deposit in transit = $840

Service charges = $45

Calculation of adjusted ending cash balance
Ending cash balance 9,640
Deposit in transit 840
Outstanding checks -615
Correct adjusted ending cash balance $9,865

the correct adjusted ending cash balance = $9,865

ekkarill92 answered 2 years ago
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