Bank Transactions and Account Balances

Front

What is a bank transaction?

Back

A bank transaction is any activity that involves the movement of money into or out of a bank account, such as deposits, withdrawals, and transfers.

Front

What does it mean to deposit money?

Back

To deposit money means to add funds to your bank account.

Front

What does it mean to withdraw money?

Back

To withdraw money means to take funds out of your bank account.

Front

If your account balance is $500 and you deposit $100, what is your new balance?

Back

$600

Front

If your account balance is $200 and you withdraw $50, what is your new balance?

Back

$150

Front

What is a check register?

Back

A check register is a record of all transactions in a bank account, including deposits, withdrawals, and the current balance.

Front

What is the purpose of a bank statement?

Back

A bank statement summarizes all transactions in a bank account over a specific period, showing deposits, withdrawals, and the ending balance.

Front

If you have $100 in your account and you make a $30 withdrawal, how much will you have left?

Back

$70

Front

What is the formula to calculate the new balance after a deposit?

Back

New Balance = Old Balance + Deposit Amount

Front

What is the formula to calculate the new balance after a withdrawal?

Back

New Balance = Old Balance - Withdrawal Amount