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In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information:

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It is correct to state that the adjusted cash balance per books on January 31st is: " $4,055" (Option D).

What is the meaning of adjusted cash balance?

The Adjusted Cash Balance is the amount of income you should have in your bank account if all of your AppFolio transactions are correct.

The Adjusted Cash Balance is computed as follows: Property equity (only from properties connected to the current bank account)

What is the calculation that gives the above answer?

Adjusted Book Balance (ABB) =

Book balance  Less (charges + EFT + NSF Check returned.

Hence,

ABB = 4725 - (25 + 380 + 265)

= $4,055

Learn more about adjusted cash balance at;
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Full Question:

In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information:

  • Cash balance per company books on January 30 $4,725
  • Deposits in transit at month-end $1,800
  • Outstanding checks at month-end $520
  • Bank service charges $25
  • EFT automatically paid monthly, not yet recorded by Maxi $380
  • An NSF check returned on a customer account $265

The adjusted cash balance per the books on January 31 is:

(A) $5,855

(B) $4,585

(C) $5,335

(D) $4,055

(E) $4,815

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