The Winter Park bank review shows a bank balance of $124,600, book balance of $119,400, and known timing items of $3,200. What unexplained difference remains?
Correct Answer
C) $2,000
Unexplained difference is the absolute bank-book difference less identified timing items.
Why This Is the Correct Answer
Unexplained difference is the absolute bank-book difference less identified timing items.
Why the Other Options Are Wrong
Option A: $5,200
$5,200 is above the supported result for bank exception amount; it likely adds an unsupported amount or compares the wrong financial base.
Option B: $3,200
$3,200 is above the supported result for bank exception amount; it likely adds an unsupported amount or compares the wrong financial base.
Option D: $244,000
$244,000 is above the supported result for bank exception amount; it likely adds an unsupported amount or compares the wrong financial base.
Memory Technique
Controller Reviews money test: bucket before math for bank amount.
Reference Hint
Open-book path: tab Builder's Guide to Accounting, 2001 to Business Administration, Bank Reconciliation Review; use the stated business record or control rule to verify the answer.
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