Check Registers

1. SECTION 4-3 pp. 172-174 Check Registers

2. Figure out: the balance in a check register Section Objective

3. Key Words to Know 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.

4. Formula How do I calculate the new balance? Step 1: New = Previous – Check – Automatic Balance Balance Amount Transfers Step 2: New Balance = Previous Balance + Deposit Amounts

5. Fleet Footed Finances p. 172 Why is it good to get in the habit of tracking the money in your checking account?

6. Example 1 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?

7. Example 1 Answer Step: Figure out the balance. $345.98 + $75.00 – $45.00 = $375.98

8. Example 2 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?

9. Example 2 Answer Step: Figure out the balance.

10. Practice 1 Find the new balance after each check or deposit. Balance: $542.62 Deposit: $125.00 New Balance: Amount of Check: $74.38 New Balance:

11. Practice 1 Answer Balance: $542.62 Deposit: $125.00 New Balance: $667.62 Amount of Check: $74.38 New Balance: $593.24

12. Practice 2 Find the new balance after each check or deposit. Balance: $197.23 Amount of Check: $48.72 New Balance: Amount of Check: $17.49 New Balance:

13. Practice 2 Answer Balance: $197.23 Amount of Check: $48.72 Balance: $148.51 Amount of Check: $17.49 Balance: $131.02

14. END OF SECTION 4-3 Check Registers