Keeping a Running Balance

Keeping a Running Balance

Unit 3

Keeping a Running Balance...

• VA SOL 8.4 - The student will solve practical problems involving consumer applications.

• I can reconcile an account balance given a statement with five or fewer transactions.

Personal Finance Vocabulary

• Deposit - a sum of money placed or kept it in a bank account.

• Deduction - the amount deducted or subtracted.

• Void - a cancelled transaction

• Payment - an amount paid

• Balance - an amount of money that remains in an account

• Fee - a payment made in return for services.

• Transaction - depositing or withdrawing money from an account.

Practice

Use the check register to answer the questions.

Fill in the Blanks

What is the balance in the checking account after you pay the electric company?

Fill in the Blanks

What is the amount deposited by ABC Employer?

Multiple Choice

What is the amount paid to Netflix and the balance after the transaction?

• $80; $60

• $1500; $1,560

• $10; $1,520

• $85; $1,435

Multiple Choice

If a deposit is made on 5/8/15 in the amount of $36.00, what would the new balance be?

• $36.00

• $1,471.00

• $2.471.00

• $1,741.00

Great Job!

You've completed this lesson. Check Canvas for more instructions.