Question

Please Helpp !!

Last week, Clay had a beginning balance of $50 in his account. He wrote 2 checks for $23 each from his checking account , withdrew another $5, and finally made a deposit of $22. Part A: Write an expression and your answer to show his final account balance at the end of the week 23 * 2 = 46
Part B: Explain in words, what Clay should do to get his accaunt balance to zero?

Answer 1

`Balance = \$21`

Make a withdrawal of $21

Explanation:

Given

`Beginning = \$50`

`Checks = \$23` (2 checks)

`Withdrawal = \$5`

`Deposit = \$22`

Solving (a): Show final balance

The transaction can be expressed as:
`Balance = (Beginning + Deposit) - (Withdrawal + Checks * Number\ of\ checks)`

i.e.

Add cash inflow

Subtract outflow

This gives:

`Balance = (\$50+ \$22) - (\$5+ \$23* 2)`

`Balance = (\$50+ \$22) - (\$5+ \$46)`

`Balance = (\$72) - (\$51)`

`Balance = \$72 - \$51`

`Balance = \$21`

Solving (b): Get account balance to 0

To get his account to 0, he needs to make a withdrawal of the exact amount in his account (i.e. $21)

So, all he needs to do is to make a withdrawal of $21