Question

Francine's register shows an automatic payment on 9/6 in the amount of $140.30, an ATM withdrawal on 9/8 in the amount of $120, and a deposit on 9/18 in the amount of $356.22. No other transactions were made.

What should the balance be in Francine's register? Use this bank statement.

Answer 1

Date Description Debits(-) Credits(+) Balance

9/6 Auto Pay 140.30 438.00

9/8 ATM 120.0 318.00

9/18 Deposit 356.22 674.22

Explanation:

Observe in the attached image that the final balance in your account on 9/1 is $578.30.

Then:

*On 9/6 he makes a payment of $140.30

*On 9/8, he makes a withdrawal from an ATM of $120

This means that:

Total Withdrawals:

`\$140.30 + \$120 = \$260.30`

Then:

*On 9/18 you receive a deposit of $356.22

This means that:

Total Deposits:

`\$356.22`

So, we have:

Beginning Balance: $578.30.

Total Withdrawals: $260.30

Total Deposits: $356.22

Final Balance = Beginning balance + Total Deposits - Total Withdrawals

Final Balance
`= \$578.30 + \$356.22 - \$260.30`

Final balance
`= \$674.22`

Then:

Date Description Debits(-) Credits(+) Balance

9/6 Auto Pay 140.30 438.00

9/8 ATM 120.0 318.00

9/18 Deposit 356.22 674.22