Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 16 - No. 37)
A company’s cash book balance is $10,000. The bank statement shows a balance of $12,000. Outstanding checks are $2,000, and deposits in transit are $500. What is the adjusted cash balance?
$10,500
$10,000
$10,200
$12,500
Explanation
The adjusted balance is equal to the book balance.
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