The 5-Minute Faculty Challenge
Can you find the missing $25,000?
A five-minute financial-systems exercise connecting transaction processing, accounting, reconciliation, controls, reporting and audit evidence.
The situation — GSD Learning Bank (fictional)
Customer deposit balances
US$278,800
General Ledger — Customer Deposits
US$303,800
Reconciliation difference
US$25,000
The General Ledger says there is $303,800 of customer deposits. The customers actually hold $278,800. Somewhere, $25,000 has appeared that should not be there. Find it, explain it, correct it — and own the control response.
No login required · approximately five minutes · fictional data only