Check Registers pp. 172-1744-3SECTIONSECTION

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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 2 of 14

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Section ObjectiveSection ObjectiveFigure out:

• the balance in a check register

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check register (p. 172)

A record you keep of your checking account deposits, withdrawals, and transfers.

balance (p. 172)

The amount of money you have in an account.

Key Words to KnowKey Words to Know

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How do I calculate the new balance?

Step 1:

New = Previous – Check – AutomaticBalance Balance Amount Transfers

Step 2:

New Balance = Previous Balance + Deposit Amounts

FormulaFormula

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Fleet Footed Finances p. 172Fleet Footed Finances p. 172

Why is it good to get in the habit of tracking the money in your checking account?

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The previous balance in your check register is $345.98. You make a deposit of $75.00. You write a check for $45.00.

What is your new balance?

Example 1Example 1

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Step: Figure out the balance.

$345.98 + $75.00 – $45.00 = $375.98

Example 1 AnswerExample 1 Answer

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Margaret Miller’s checking account had a balance of $313.54. She wrote a check for $45.78 on March 2. On March 5 the bank made an automatic transfer (AT) of $52.55. She made a deposit of $240.32 on March 10.

What is the new balance in Miller’s account?

Example 2Example 2

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Step: Figure out the balance.

Example 2 AnswerExample 2 Answer

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Find the new balance after each check or deposit.

Balance: $542.62Deposit: $125.00New Balance:

Amount of Check: $74.38New Balance:

Practice 1Practice 1

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Balance: $542.62Deposit: $125.00New Balance: $667.62

Amount of Check: $74.38New Balance: $593.24

Practice 1 AnswerPractice 1 Answer

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Find the new balance after each check or deposit.

Balance: $197.23Amount of Check: $48.72New Balance:

Amount of Check: $17.49New Balance:

Practice 2Practice 2

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Balance: $197.23Amount of Check: $48.72Balance: $148.51

Amount of Check: $17.49Balance: $131.02

Practice 2 AnswerPractice 2 Answer

Check Registers4-3END OF SECTIONEND OF SECTION