At July 31, Oriole Company has this bank information: cash balance per bank $8,085, outstanding checks $755, deposits in transit $1,390 and a bank service charge $25. Determine the adjusted cash balance per bank at July 31.

The adjusted cash balance per bank at July 31 is $8,720

Explanation:

Adjusted cash balance is the cash balance calculated after required adjustments in the balance as per bank or balance as per record of the entity having that bank account.

Accroding to the bank reconciliation statement

Adjusted Balance can be calculated as follow

Cash balance as per Bank $8,085

Less: Outstanding Checks $755

Add: Deposit in transit $1,390

Adjusted Cash balance $8,720

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