Question

Each month Emily checks her bank statement to make sure it is correct. Identify the error in the bank statement and calculate the new balance.

- Monday, August 13, 2018, Emily received a refund check for $42.73 that was deposited into her account
- Thursday, August 16, 2018, her paycheck of $973.80 was deposited into her account
- Friday, August 17, 2018 she ordered some new songs from iTunes for $25.25
- Monday, August 20, 2018 her mom told her to go to Walmart for groceries and she spent $98.34

Answer 1

It appears that the bank statement is missing the transaction for the groceries that Emily bought at Walmart on Monday, August 20, 2018. The new balance should reflect this transaction, so the new balance would be calculated as follows:

Old balance: $0.00
+ refund check: $42.73
+ paycheck: $973.80
+ iTunes purchase: $25.25
+ groceries: $98.34
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New balance: $1140.12