Question

Idil's monthly bank statement showed the following deposits and withdrawals:

$27.77, −$45.07, −$96.07, $26.96, −$66.76

If Idil's balance in the account was $13.78 at the beginning of the month, what was the account balance at the end of the month?

Answer 1

To calculate the end-of-month balance, each deposit and withdrawal must be added to or subtracted from Idil's starting balance. After processing each transaction, it was determined that Idil overdrawn her account by $139.39.

Step-by-step explanation:

Calculating Idil's account balance at the end of the month involves adding her deposits and subtracting her withdrawals from her starting balance. Idil started with a balance of $13.78. Her transactions were as follows: a deposit of $27.77, withdrawals of -$45.07, -$96.07, and -$66.76, and a further deposit of $26.96. To find the ending balance, we perform the following calculations:

Starting Balance: $13.78
+ Deposit: $27.77
- Withdrawal: -$45.07
- Withdrawal: -$96.07
+ Deposit: $26.96
- Withdrawal: -$66.76
= Ending Balance

We sum these amounts to get Idil's account balance at the end of the month:

$13.78 + $27.77 - $45.07 - $96.07 + $26.96 - $66.76 = $-139.39

This negative balance indicates that Idil has overdrawn her account by $139.39.