T/F
This is the correct way to write the amount ($25.00) on the amount line.
Twenty and 5/100------------------
False.
Twenty-five and 0/100--------------------
What is an account balance?
The amount of money you have in your account
When you receive a check from someone you write the amount in the ___________ slot on your register.
deposit/credit
On a check I sign the ____________________ if I'm writing the check TO someone.
Signature line.
What does YTD stand for on a pay stub?
A budget is the same thing as a spending plan.
True
What does debit mean?
A payment/amount owed listed on the left side of your register. Money comes out of your account.
If you write a check to someone you write it in the _____ box so you can take the money out of your balance.
payment/debit
Instead of buying something with cash or my debit card, I can use a _____________.
Check
What does O/T Stand for?
Over Time
The check number is on your check one time.
False. It's in the top right corner and on the bottom
What does endorse mean?
sign the check. (When writing a check it means you will pay the amount..when signing the back it means you accept the money)
This is where you write the amount that you have in your account after adding or subtracting money.
The balance box.
When I fill in the __________, I fill the remaining space with a line.
Amount Line
What is your Gross Income?
Amount of money that you made before taxes were taken out of your paycheck.
On a pay stub your gross income is the amount that you take home after taxes are taken out.
False. That is your net income.
What does void mean?
Not valid/cancelled.
If you make a mistake on a check that you wrote into your register you have to write/do this in the register.
Cross it out and write void
If the bank makes a mistake on your account, they will _________ your account for the amount of the mistake.
credit
What is Net Income?
The amount of money you receive after taxes are taken out of your check.
If you have more than 3 checks you will need more than one deposit slip because they won't fit.
False. You will use the back of the slip.
What is the routing number on a check?
It's the first set of numbers printed on the bottom of your checks, on the left side. Nine-digits that are based on the U.S. Bank location where your account was opened.
If someone writes you a check on 2/25/20 but you cash it on 2/28/20, which date do you write in the check register?
2/28/20
The check amount is recorded in the check ________.
Stub
What are two deductions that come out of your paycheck?
Social Security Taxes
Medicare Taxes
Federal Withholding Taxes
State Withholding Taxes