subtract checks; add deposits, right?
3000 - 500 + 300 = 2800
Honey Hut's unadjusted bank statement balance is $3,000. Outstanding checks amount to $500 and deposits in transit total $300. Based on this information alone, Honey Hut's adjusted cash statement balance is:
2 answers
the outstanding checks ($500) will take the balance down (-),
the deposits in transit ($300) will take the balance up (+),
he currently has $3,000.
∴Adjusted balance: $3,000 - $500 + $300 = $2,800
the deposits in transit ($300) will take the balance up (+),
he currently has $3,000.
∴Adjusted balance: $3,000 - $500 + $300 = $2,800