Vocabulary
The amount of money that you put into a bank account.
Deposit
Jane makes a deposit at an ATM. She has a check for $235.42 and a check for $55.47. She would like to receive $40 in cash and deposit the rest of the money in her checking account. What is the total deposit?
$250.89
Write $235.58 in word form.
Two hundred thirty-five and 58/100 dollars
A fee charged by the bank for servicing your account.
Service Charge
Directs a bank to deduct money from your checking account to make a payment.
Check
The number you have linked with your ATM card.
PIN
What is $479.55 in word form?
Four hundred seventy-nine and 55/100 dollars.
Diana had the following transactions on her account: A check she wrote for $145.86, payment for a utility bill for $88.20, a deposit of $500, and a debit card purchase at a store for $99.37. What is the total for withdrawals?
$333.43
A place to keep a written record of your deposits and payments made from your checking account.
Check register
Formula for Total Deposit
(Checks + Currency + Cash + Coin) - Cash Received
How do we calculate New Balance?
Previous Balance - Payment/Debit + Deposit/Credit
Josiah had the following transactions on his account: A check he wrote for $567.98, payment for a utility bill for $15.39, a deposit of $375, and a store credit for $62.84. What is the total for deposits?
$437.84
Comparing the bank's records of checking account activity with your own records.
Reconcile
You received your state refund check for $426.19 and your federal refund check for $827.43. You also have tip money from working a the weekend at the Re-Load, including: 24 one-dollar bills, 8 five-dollar bills, and 11 ten-dollar bills, 18 quarters, 52 dimes, 57 nickels, and 15 pennies. What is the total deposit?
$1,440.32
Look at the list below:
Which transactions do you add? Which do you subtract?
Checks, Deposits, Withdrawals, Payments, Credits and Debit Card Transactions
Add: Deposits and Credits
Subtract: Checks, Withdrawals, Payments and Debit Card Transactions
Calculate the adjusted balance when there is statement balance of $1,236.11, outstanding checks of $190.10 and $84.65, and outstanding deposits of $231.01 and $427.90.
$1,620.27
A list of all the transactions that the bank has cleared on your checking account.
Bank statement
You receive several gifts for your birthday in the form of checks for the amounts of $25.00, $25.00, $35.00, $40.00, and $50.00. In addition, you have been saving loose change in a jar. You have 88 quarters, 173 dimes, and 224 nickels. What is the total amount of money you have to deposit?
$225.50
Mathew Burr had a balance of $1,506.15 in his checking account on December 9. On December 11, his car payment of $410.09 was automatically deducted from his account. On December 15, his payroll check of $752.34 was electronically deposited in his account. On December 16, he withdrew $300.00 in cash and wrote a check for $124.82. What is his new balance after these four transactions?
$1,423.58
Joni Warwick’s check register balance is $972.30. She notes that the bank paid her $0.21 in interest and charged her $19.00 for new checks. Her statement balance is $911.73. She finds these outstanding checks and deposits: Check #998 $87.64, Credit $25.75, Deposit $103.67. What is her new balance? What is her adjusted balance?
New Balance: $953.51
Adjusted Balance: $953.51