Balancing a Check Register

Front

What is a check register?

Back

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

Front

What does it mean to balance a check register?

Back

Balancing a check register means ensuring that the recorded transactions match the bank statement, confirming the accuracy of the account balance.

Front

What is a deposit?

Back

A deposit is money added to a bank account, increasing the account balance.

Front

What is a withdrawal?

Back

A withdrawal is money taken out of a bank account, decreasing the account balance.

Front

How do you calculate the new balance after a withdrawal?

Back

To calculate the new balance after a withdrawal, subtract the withdrawal amount from the current balance.

Front

What is the purpose of keeping a check register?

Back

The purpose of keeping a check register is to track spending, manage finances, and avoid overdrafts.

Front

What is a debit card transaction?

Back

A debit card transaction is a payment made directly from a checking account using a debit card.

Front

What is the difference between a check and a debit card?

Back

A check is a written order to pay a specific amount from a checking account, while a debit card is a plastic card used to make electronic payments directly from the account.

Front

What is an account balance?

Back

An account balance is the amount of money currently available in a bank account.

Front

How do you find the total deposit amount?

Back

To find the total deposit amount, add all checks and cash received together.