Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Opening and Managing a Checking Account (continued) BALANCING YOUR CHECKBOOK Step 1. In the ~ column of your check register, check off every deposit, check,

image text in transcribed
Opening and Managing a Checking Account (continued) BALANCING YOUR CHECKBOOK Step 1. In the ~ column of your check register, check off every deposit, check, debit card, and ATM transaction that appears on the bank statement Step 2. Record the closing balance (from bank statement): Step 3. Calculate the total deposits by adding together all deposits made since the closing date on the bank statement (all deposits with no check marks in the : column): Date Amount Total Deposits -179.03 Step 4. Add together the closing balance (from Step 2) and the total deposits (from Step 3) to get the subtotal: =$ Step 5. Calculate the total debits by adding together all debits (checks, debit card, and ATM withdrawals) made since the closing date on the bank statement (all debits with no check marks in the ~ column). Include bank service fees: Date Amount Total Debits Step 6. Add total debits to the subtotal in Step 4: This total shows the amount of money in your account according to the bank. It should match the most recent running tots in your check register, after recording any bank service fees

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Micromotives And Macrobehavior

Authors: Thomas Schelling

1st Edition

0393329461, 9780393329469

More Books

Students also viewed these Economics questions

Question

Why is it a good idea to avoid being judgmental? (p. 177)

Answered: 1 week ago