QuestionOrganize these transactions by date, then calculate your balance after each:
1. Apr 29: balance \$237.47
2. Apr 29: write check \#115 for \$18.00
3. Apr 30: paycheck \$62.75
4. May 4: deposit check from grandma \$25.00
5. May 5: ATM withdrawal \$20 + \$3 fee
6. May 12: write check \#116 for \$51.16
7. May 10: receive \$20 from sister
8. May 12: ATM withdrawal \$525
9. May 16: deposit paycheck \$265.65
10. May 12: deposit birthday check \$35 (received on May 12, deposited on May 17)

Studdy Solution

STEP 1

Assumptions1. The initial balance on April29 is $237.47. All transactions are listed and will be recorded in chronological order3. The balance is updated after each transaction

STEP 2

First, we record the initial balance on April29.
$Balance_{Apr29} = \$237.47$

STEP 3

On April29, a check of $18.00 is written. Subtract this amount from the balance.
$Balance_{Apr29} = \$237.47 - \$18.00$

STEP 4

Calculate the new balance after the check is written.
$Balance_{Apr29} = \$237.47 - \$18.00 = \$219.47$

STEP 5

On April30, a paycheck of $62.75 is received. Add this amount to the balance.
$Balance_{Apr30} = \$219.47 + \$62.75$

STEP 6

Calculate the new balance after the paycheck is received.
$Balance_{Apr30} = \$219.47 + \$62.75 = \$282.22$

STEP 7

On May4, a check of $25.00 is received and deposited. Add this amount to the balance.
$Balance_{May4} = \$282.22 + \$25.00$

STEP 8

Calculate the new balance after the check is deposited.
$Balance_{May4} = \$282.22 + \$25.00 = \$307.22$

STEP 9

On May5, $20 is withdrawn from the ATM and a$ 3.00 fee is charged. Subtract these amounts from the balance.
$Balance_{May5} = \$307.22 - \$20.00 - \$3.00$

STEP 10

Calculate the new balance after the ATM withdrawal and fee.
$Balance_{May5} = \$307.22 - \$20.00 - \$3.00 = \$284.22$

STEP 11

On May, a check of $51.16 is written. Subtract this amount from the balance.
$Balance_{May} = \$284.22 - \$51.16$

STEP 12

Calculate the new balance after the check is written.
$Balance_{May12} = \$284.22 - \$51.16 = \$233.06$

STEP 13

On May10, $20 is received. Add this amount to the balance.
$Balance_{May10} = \$233.06 + \$20.00$

STEP 14

Calculate the new balance after the money is received.
$Balance_{May10} = \$233.06 + \$20.00 = \$253.06$

STEP 15

On May12, $25 is withdrawn from the ATM. Subtract this amount from the balance.
$Balance_{May12} = \$253.06 - \$25.00$

STEP 16

Calculate the new balance after the ATM withdrawal.
$Balance_{May12} = \$253.06 - \$25.00 = \$228.06$

STEP 17

On May16, a paycheck of $265.65 is deposited. Add this amount to the balance.
$Balance_{May16} = \$228.06 + \$265.65$

STEP 18

Calculate the new balance after the paycheck is deposited.
$Balance_{May16} = \$228.06 + \$265.65 = \$493.71$

STEP 19

On May17, a check of $35 is deposited. Add this amount to the balance.
$Balance_{May17} = \$493.71 + \$35.00$

STEP 20

Calculate the final balance after the check is deposited.
$Balance_{May17} = \$493.71 + \$35.00 = \$528.71$ The final balance on May17 is $528.71.

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Studdy Solution

STEP 1

Assumptions1. The initial balance on April29 is $237.47. All transactions are listed and will be recorded in chronological order3. The balance is updated after each transaction

STEP 2

First, we record the initial balance on April29.BalanceApr29=$237.47Balance_{Apr29} = \$237.47BalanceApr29​=$237.47

STEP 3

On April29, a check of $18.00 is written. Subtract this amount from the balance.BalanceApr29=$237.47−$18.00Balance_{Apr29} = \$237.47 - \$18.00BalanceApr29​=$237.47−$18.00

STEP 4

Calculate the new balance after the check is written.BalanceApr29=$237.47−$18.00=$219.47Balance_{Apr29} = \$237.47 - \$18.00 = \$219.47BalanceApr29​=$237.47−$18.00=$219.47

STEP 5

On April30, a paycheck of $62.75 is received. Add this amount to the balance.BalanceApr30=$219.47+$62.75Balance_{Apr30} = \$219.47 + \$62.75BalanceApr30​=$219.47+$62.75

STEP 6

Calculate the new balance after the paycheck is received.BalanceApr30=$219.47+$62.75=$282.22Balance_{Apr30} = \$219.47 + \$62.75 = \$282.22BalanceApr30​=$219.47+$62.75=$282.22

STEP 7

On May4, a check of $25.00 is received and deposited. Add this amount to the balance.BalanceMay4=$282.22+$25.00Balance_{May4} = \$282.22 + \$25.00BalanceMay4​=$282.22+$25.00

STEP 8

Calculate the new balance after the check is deposited.BalanceMay4=$282.22+$25.00=$307.22Balance_{May4} = \$282.22 + \$25.00 = \$307.22BalanceMay4​=$282.22+$25.00=$307.22

STEP 9

On May5, 20iswithdrawnfromtheATManda20 is withdrawn from the ATM and a 20iswithdrawnfromtheATManda3.00 fee is charged. Subtract these amounts from the balance.BalanceMay5=$307.22−$20.00−$3.00Balance_{May5} = \$307.22 - \$20.00 - \$3.00BalanceMay5​=$307.22−$20.00−$3.00

STEP 10

Calculate the new balance after the ATM withdrawal and fee.BalanceMay5=$307.22−$20.00−$3.00=$284.22Balance_{May5} = \$307.22 - \$20.00 - \$3.00 = \$284.22BalanceMay5​=$307.22−$20.00−$3.00=$284.22

STEP 11

On May, a check of $51.16 is written. Subtract this amount from the balance.BalanceMay=$284.22−$51.16Balance_{May} = \$284.22 - \$51.16BalanceMay​=$284.22−$51.16

STEP 12

Calculate the new balance after the check is written.BalanceMay12=$284.22−$51.16=$233.06Balance_{May12} = \$284.22 - \$51.16 = \$233.06BalanceMay12​=$284.22−$51.16=$233.06

STEP 13

On May10, $20 is received. Add this amount to the balance.BalanceMay10=$233.06+$20.00Balance_{May10} = \$233.06 + \$20.00BalanceMay10​=$233.06+$20.00

STEP 14

Calculate the new balance after the money is received.BalanceMay10=$233.06+$20.00=$253.06Balance_{May10} = \$233.06 + \$20.00 = \$253.06BalanceMay10​=$233.06+$20.00=$253.06

STEP 15

On May12, $25 is withdrawn from the ATM. Subtract this amount from the balance.BalanceMay12=$253.06−$25.00Balance_{May12} = \$253.06 - \$25.00BalanceMay12​=$253.06−$25.00

STEP 16

Calculate the new balance after the ATM withdrawal.BalanceMay12=$253.06−$25.00=$228.06Balance_{May12} = \$253.06 - \$25.00 = \$228.06BalanceMay12​=$253.06−$25.00=$228.06

STEP 17

On May16, a paycheck of $265.65 is deposited. Add this amount to the balance.BalanceMay16=$228.06+$265.65Balance_{May16} = \$228.06 + \$265.65BalanceMay16​=$228.06+$265.65

STEP 18

Calculate the new balance after the paycheck is deposited.BalanceMay16=$228.06+$265.65=$493.71Balance_{May16} = \$228.06 + \$265.65 = \$493.71BalanceMay16​=$228.06+$265.65=$493.71

STEP 19

On May17, a check of $35 is deposited. Add this amount to the balance.BalanceMay17=$493.71+$35.00Balance_{May17} = \$493.71 + \$35.00BalanceMay17​=$493.71+$35.00

STEP 20

Calculate the final balance after the check is deposited.BalanceMay17=$493.71+$35.00=$528.71Balance_{May17} = \$493.71 + \$35.00 = \$528.71BalanceMay17​=$493.71+$35.00=$528.71The final balance on May17 is $528.71.

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First, we record the initial balance on April29.
$Balance_{Apr29} = \$237.47$

On April29, a check of $18.00 is written. Subtract this amount from the balance.
$Balance_{Apr29} = \$237.47 - \$18.00$

Calculate the new balance after the check is written.
$Balance_{Apr29} = \$237.47 - \$18.00 = \$219.47$

On April30, a paycheck of $62.75 is received. Add this amount to the balance.
$Balance_{Apr30} = \$219.47 + \$62.75$

Calculate the new balance after the paycheck is received.
$Balance_{Apr30} = \$219.47 + \$62.75 = \$282.22$

On May4, a check of $25.00 is received and deposited. Add this amount to the balance.
$Balance_{May4} = \$282.22 + \$25.00$

Calculate the new balance after the check is deposited.
$Balance_{May4} = \$282.22 + \$25.00 = \$307.22$

On May5, $20 is withdrawn from the ATM and a$ 3.00 fee is charged. Subtract these amounts from the balance.
$Balance_{May5} = \$307.22 - \$20.00 - \$3.00$

Calculate the new balance after the ATM withdrawal and fee.
$Balance_{May5} = \$307.22 - \$20.00 - \$3.00 = \$284.22$

On May, a check of $51.16 is written. Subtract this amount from the balance.
$Balance_{May} = \$284.22 - \$51.16$

Calculate the new balance after the check is written.
$Balance_{May12} = \$284.22 - \$51.16 = \$233.06$

On May10, $20 is received. Add this amount to the balance.
$Balance_{May10} = \$233.06 + \$20.00$

Calculate the new balance after the money is received.
$Balance_{May10} = \$233.06 + \$20.00 = \$253.06$

On May12, $25 is withdrawn from the ATM. Subtract this amount from the balance.
$Balance_{May12} = \$253.06 - \$25.00$

Calculate the new balance after the ATM withdrawal.
$Balance_{May12} = \$253.06 - \$25.00 = \$228.06$

On May16, a paycheck of $265.65 is deposited. Add this amount to the balance.
$Balance_{May16} = \$228.06 + \$265.65$

Calculate the new balance after the paycheck is deposited.
$Balance_{May16} = \$228.06 + \$265.65 = \$493.71$

On May17, a check of $35 is deposited. Add this amount to the balance.
$Balance_{May17} = \$493.71 + \$35.00$

Calculate the final balance after the check is deposited.
$Balance_{May17} = \$493.71 + \$35.00 = \$528.71$ The final balance on May17 is $528.71.