Checkbook

Front

What is a Credit in a checking account?

Back

A Credit is an addition to the account balance, representing money deposited or received.

Front

What is a Debit in a checking account?

Back

A Debit is a subtraction from the account balance, representing money withdrawn or spent.

Front

If the beginning balance is $124.82 and the ending balance is $659.27, how much more in credits than debits does Ignatius have?

Back

$534.45 more in credits than in debits.

Front

What type of transaction would appear in the Debits column of a bank statement?

Back

An online bill payment.

Front

What type of transaction would appear in the Credits column of a bank statement?

Back

A direct deposit.

Front

What does the set of numbers below a check represent?

Back

The bank's routing number.

Front

What is the purpose of a check?

Back

A check is a written order directing a bank to pay a specific amount from the writer's account.

Front

What is a bank statement?

Back

A bank statement is a summary of all transactions in a bank account over a specific period.

Front

What is the difference between a credit and a debit transaction?

Back

Credits increase the account balance, while debits decrease it.

Front

What is a direct deposit?

Back

A direct deposit is an electronic transfer of funds directly into a bank account.