Personal Finance – 10/25/16

I. Bellwork:  Show your work

A.  You have $2000 in your account. You pay a bill by phone for $120. You use your debit card for purchases of  $485 and $135. You make two deposits, one for $200 and another for  $180.  You transfer $100 from your checking  to your savings account.  What is your balance?

B.  You have $3200 in your account. You write checks for $50 and $665. You pay a bill by phone for $79.  You use your debit card for purchases of  $505.  You deposit a check for $940 and  another for $220.  Later, you issue a stop payment on a check you previously wrote for $150. The bank informs you that the $120 check you deposited is being returned to you due to insufficient funds. They also charge you a $25 NSF for the check  What is your balance?

 II.  Objectives:

Content OBJ:

• Analyze transactions and post subtractions and additions to a checking account maintaining a running balance.

Lang OBJ:

• Explain how to post checks and deposits to a checking account

III.  Classwork

• Record August Transactions

IV.  Checking Account Test

Personal Finance F2016