Finley iggley’s check register balance shows $1,959.75 at the time he receives his bank statement. his bank statement shows a balance of $2,827.00. finley finds that check #525 for $600.00 and check #527 for $307.25 are still outstanding. he remembers that he took cash from an atm, but never wrote down the amount. what is the most likely amount of finley’s cash withdrawal?
a) $40.00
b) $33.75
c) $35.00
d) $46.00

A) $40 is the most likely amount of Finley’s cash withdrawal

Step-by-step explanation:

Given :

Finley Iggley’s check register balance shows $1,959.75

His bank statement shows a balance of $2,827.00.

Finley finds that check #525 for $600.00 and check #527 for $307.25 are still outstanding

Solution :

Since there is two outstanding checks of amount $600 and $307.25

Total amount of both checks = 600+307.25= $907.25

Since balance according to bank statement is $2,827.00.

So, after the deduction of amount of both checks , the new balance will be :

$2,827.00-$907.25 = $1919.75

Now, He remembers that he took cash from an ATM, but never wrote down the amount.

Since his check register shows $1,959.75 and his balance according to bank statement after the deduction of both checks amount = $1919.75

so, the difference between both the balance will give the amount which was taken from the atm = $1,959.75- $1919.75= $40

Thus, $40 is the most likely amount of Finley’s cash withdrawal

Hence Option A is correct .