Use the following figures to find out if an error exists either in the bank's balance or the customer's record book.

The ending balance on the statement is $378.19. Three checks are outstanding: #5104 for $30.90; #5123 for $17.50; and #5124 for $98.10. A deposit of $309.00 has not yet been credited. A service charge of $4.21 has been made. The balance in the record book is $544.90.

Does an error exist? Yes or No?

Question

Miguel

Mathematics

4 April, 23:55

Use the following figures to find out if an error exists either in the bank's balance or the customer's record book.

The ending balance on the statement is $378.19. Three checks are outstanding: #5104 for $30.90; #5123 for $17.50; and #5124 for $98.10. A deposit of $309.00 has not yet been credited. A service charge of $4.21 has been made. The balance in the record book is $544.90.

Does an error exist? Yes or No?

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Answers (1)

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Bobby Sanford · Answer 1

Yes, the error exists in the customer's record book

Step-by-step explanation:

The ending balance on the statement = $378.19

The amount of outstanding checks are to be deducted from the from the balance.

Hence now, the balance = 378.19 - (30.9+17.5+98.1)

= $231.69

Deposit is added in the balance = 231.69+309

= $540.69

Service charge is been deducted = 540.69 - 4.21

Balance in the bank statement = $536.48

Yes, the error exists in the customer's record book. Since, the balance in the bank statement does not matches the customer's record book.