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

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.