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2 cards from this section. Quick, good the night before a test.
What are outstanding checks?
Think about checks issued by a company.
What types of fees constitute bank charges?
Consider different services provided by banks.
What are outstanding checks?
Consider what has not been finalized or cleared.
True or False: Bank charges have no impact on the cash book balance.
Think about whether these charges affect what you think you have.
A business has a cash book balance of ₹15,000. It issued checks worth ₹6,000, but only ₹3,000 has cleared. In addition, the bank has imposed charges of ₹500. Calculate the adjusted balance after accounting for these transactions.
Subtract both the outstanding checks and the bank charges from the cash book balance.
If a company's monthly bank fees total ₹1,000 and it issues checks totaling ₹7,500 but still has ₹2,000 outstanding, what adjusted balance will they work with after these deductions?
Combine data to effectively find the adjusted total.
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