Answer:
The correct answer is $9,315
Explanation:
Solution
Given that:
The ending cash balance = $9340
Checks outstanding amounted to = $865
The deposit in transit = $840
Bank statement service charges = $25
Now,
We will find the correct adjusted ending cash balance which is given below:
Correct adjusted ending cash balance = Unadjusted Balance - Outstanding Check + Deposit in transit
= $9,340 - $865 + $840
=$8,475 + $840
=$9,315
Hence,
The correct adjusted ending cash balance is $9,315