Check Registers pp. 172-174 4-3 SECTION. Click to edit Master text styles Second level Third level...
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Check Registers pp. 172-174 4- 3 SECTION
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Transcript of Check Registers pp. 172-174 4-3 SECTION. Click to edit Master text styles Second level Third level...
Check Registers pp. 172-1744-3SECTIONSECTION
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 2 of 14
4-3
Section ObjectiveSection ObjectiveFigure out:
• the balance in a check register
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 3 of 14
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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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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 4 of 14
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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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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 5 of 14
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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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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 6 of 14
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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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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 7 of 14
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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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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 8 of 14
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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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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 9 of 14
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Step: Figure out the balance.
Example 2 AnswerExample 2 Answer
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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 10 of 14
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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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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 11 of 14
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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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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 12 of 14
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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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Copyright © Glencoe/McGraw-Hill MBA, Section 4-3, Slide 13 of 14
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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
