Block II - e-Learning February 18th

What types of transactions require you to subtract from your account? Mark ALL that apply.

• write a check

• debit card used

• deposit made

• withdrawal

• transfer funds into your account

Why is it important to BALANCE your accounts each month?

Mark ALL that apply

• it's fun

• the bank may have made a mistake

• you may have made a mistake in your register

• you might have been charged a fee that you weren't aware of

• the bank pays you to

When you receive your monthly bank statement, it is recommended that you

• file it with your other personal records.
• use it to reconcile your checking account.
• use it to record all of your transactions for the past month.
• review it carefully, then shred it before throwing it in the trash.

Writing a check for insufficient funds (bounce a check):

• can be easily avoided if you do not use an ATM.

• is impossible as long as you have checks in your checkbook.

• can result in expensive fees, fines and if you do it repeatedly even jail time, if convicted.

• is really no big deal as long as you pay the fees and cover the check amount.

Deposits represent

• money that is subtracted from your checking account.
• money that is available in your checking account.
• money that is added to your checking account.
• purchases made with a debit card.

Tags

CCSS.6.NS.C.5

Reconciling a bank statement is used to

• find your daily account balance.
• write down all transactions with your account.
• determine if there are any discrepancies in your records.
• track all fees paid to your financial institution.

Complete the mathematical equation with +, -, x, /, and/or =.

Ending Balance _ Beginning Balance _ Withdrawals _ Deposits

• =, x, /

• =, +, -

• =, -, +

• =, +, /

You checkbook shows a balance of $468. Your bank statement says you have $399. Assuming you are missing just one transaction, what is the amount of the transaction you are missing?

• $867

• $69

• $186,732

• $1.17

What is the starting balance on this check register?

• 810.00

• 994.08

• 1000.00

• 1537.41

On which day was the balance the highest?

• 7/7
• 7/15
• 7/19
• 7/20