Accounting and Finance Foundations

Unit 3

Accounting and Finance Foundations Unit 3: The Role of Money 182

The Role of Money

Chapter 6Chapter 8

Student Assignment

8.2.4 Checking Assignment

1. On Monday morning, Katie’s beginning checking account balance was $65.98.

n She deposited a check for $487.00.

n She also used her ATM card to withdraw $100.00 in cash for shopping.

What is her new bank balance after her deposit and withdrawal?

2. Your checking account had a balance of $643.89 when you started the day. You then used your debit
   card to make the following purchases:

n Transaction 1, $32.89

n Transaction 2, $7.95

n Transaction 3, $75.00

What is the remaining balance in your account at the end of the day?

3. Whitney had a balance of $210.00 in her checking account on Tuesday.

n On Tuesday morning, she went to the bank to deposit a check for $63.00.

n While at the bank, she also withdrew $50.00 in cash from her account.

n When she got home, she used her debit card to shop online and make a purchase of $94.00.

How much money does Whitney have in her checking account at the end of the day?

4. Chuck’s checking account had a beginning balance of $68.75 on Thursday.

n He deposited his tax refund of $325.00 in his checking account on Thursday morning.

n He wrote checks for the following amounts:

• Check #1 $53.98


• Check #2 $90.85


• Check #3 $289.00

n He used his debit card for $15.65.

How much money does Chuck have left in his account?

Name: _______________________________________________________________ Date: _________________