Bank Accounts
Reconcile a Bank Statement
Vocabulary
Random
100

Is interest good or bad when you have an account with a bank?

Good

100

What do you call the amount of money in your bank account at the end of a statement period?

Balance

100

What is the vocabulary term for putting money into a bank account?

Deposit

100

What's Ms. Persad's favorite baseball team?

Mets

200
The main difference between a checking account and a savings account.
A Savings Account earns interest.
200
Deposits that have been made but do not appear on the statement.
What are Outstanding Deposits?
200

What is the one word term for the amount of money that you owe?

Debt

200

What's Ms. Persad's favorite color?

Purple

300

How much does the FDIC insure savings accounts for?

$250,000

300
Checks that have been written but do not appear on the statement.
What are Outstanding Checks?
300

What is the term for money lent by the bank that must be paid back with interest?

Loan

300

What's Ms. Persad's favorite animal?

Bears

400
Sam's savings account has a minimum balance requirement of $450. If his balance goes below that amount, the bank charges a $6 fee. His balance was $600 when he withdrew $175. What is his new balance?
What is $419.
400
The ending balance of this bank statement: Beginning balance: 754.33 1/08 W/D 121.28 1/11 W/D 140.00 1/15 Deposit 998.15 1/24 W/D 107.78
What is $1383.42?
400
The record of all transactions in your checking account, including checks written, deposits made, fees paid, ATM withdrawals, and so on.
What is a Check Register?
400

Who is Ms. Persad's next door classroom neighbor?

Ms. Fothergill

500
The amount Gary has in his checking account at the end of October if his beginning balance was $9145.87 before he made deposits totaling $2783.71, wrote checks totaling $4871.90, paid a maintenance fee of $12 and earned $11.15 in interest on the account.
What is $7056.83?
500
The actual balance in your account after you realize you entered an ATM withdrawal of $20 as a deposit instead, not the $543.25 your check register shows now.
What is $503.25?
500

What vocabulary term means the rise in average costs of goods/services over time?

Inflation

500

What did Ms. Persad do over the summer?

Road trip to national parks

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