Question

10. For a two week period, John and Amanda had the following transactions occur to their checking account: a deposit of $1,644.50; checks written for $190, $45, and $7.50; and debit card transactions for $30, $5.59, $7.20, and $21.30. What is the ending balance for this time frame? A. $1,337.91 B. $1,352.24 C. $1,234.56 D. $1,466.09

Answer 1

I believe it's $1,337.91

Answer 2

To get the ending balance, we need to subtract money out of account from money in account.

Money in account: The only transaction that put money in account is the deposit of $1644.50. So, money in account is $1644.50.

Money out of account: All debit card transactions and checks written as basically money that went out of the account. Sum of them is
`190+45+7.50+30+5.59+7.20+21.3=<strong>306.59</strong>`.

Hence, ending balance is
`1644.50-306.59=<strong>1337.91</strong>`. Answer choice A is correct.

ANSWER: A