A closing ledger and an unallocated balance

A fictional settlement ledger opens with 10,000 exercise units. It records 240,000 received from a lender and 50,000 received from a buyer. The supported disbursement entries are a 190,000 payoff, 100,000 to the seller and 7,000 in specified fees. The exercise states that these are all movements and asks for the arithmetic remaining balance. A staff member assumes that any balance belongs to the settlement company and wants to transfer it to operating income. The actual instructions and entitlement to the balance have not been reviewed. Students must distinguish a correct cash reconciliation from authority to use the money. No real tax, commission right, client trust rule or additional expense is supplied, and the case does not authorize an actual disbursement.