Question

Francine's register shows an automatic payment on 9/6 in the amount of $140.30, an ATM withdrawal on 9/8 in the amount of $120, and a deposit on 9/18 in the amount of $356.22. No other transactions were made.
What should the balance be in Francine's register? Use this bank statement.

Answer 1

Answer:

Date     Description    Debits(-)  Credits(+)   Balance

9/6        Auto Pay         140.30                       438.00

9/8         ATM               120.0                         318.00

9/18       Deposit                           356.22      674.22

Step-by-step explanation:

Observe in the attached image that the final balance in your account on 9/1 is $578.30.

Then:

*On 9/6 he makes a payment of $140.30

*On 9/8, he makes a withdrawal from an ATM of $120

This means that:

Total Withdrawals:

$\ 140.30 + \ 120 = \ 260.30$

Then:

*On 9/18 you receive a deposit of $356.22

This means that:

Total Deposits:

$\ 356.22$

So, we have:

Beginning Balance: $578.30.

Total Withdrawals: $260.30

Total Deposits: $356.22

Final Balance = Beginning balance + Total Deposits - Total Withdrawals

Final Balance $= \ 578.30 + \ 356.22 - \ 260.30$

Final balance $= \ 674.22$

Then:

Date     Description    Debits(-) Credits(+)    Balance

9/6        Auto Pay         140.30                       438.00

9/8         ATM               120.0                         318.00

9/18       Deposit                           356.22      674.22