The Cash account in the ledger of Hensley, Inc. showed a balance of $3,100 at June 30. The bank statement, however, showed a balance of $3,900 at the same date. The only reconciling items consisted of a $700 deposit in transit, a bank service charge of $7, and a large number of outstanding checks. What is the "adjusted cash balance" at June 30?

$3,093

Explanation:

Hensley, Inc.

Bank Reconciliation Statement

Month Ended June 30

Balance as Hensley, Inc. record $3,100

Less: Service Charges $7

Adjusted Cash Balance $3,093

Cash Balance as per Bank Statement $3,900

Add: Deposit in Transit $700

Less: Outstanding checks* $1,507

Adjusted Cash Balance $3,093

*Outstanding Checks = Balance as per Bank Statement + Deposit in Transit - Adjusted Cash Balance

Outstanding Checks = $3,900 + $700 - $3,093

Outstanding Checks = $1,507

12:34

Explanation:

It will be 12:34 if you leave at 11:26