You are a senior in college and financially responsible for yourself. You have several transactions that you need to take care of to balance your checkbook this month. Your current balance is $516.87. Complete the deposit slip to deposit your paycheck from your job, write a check to your landlord for your half of the rent, write a check to your school for a parking ticket, and calculate the new balance in your account after these transactions.
1. Complete the deposit slip for December 10th. Get $75.00 cash back.
Deposit Slip:
Date: December 10th
Deposit Amount: $75.00
Cash Back: $75.00
Total Deposit: $0.00
Checkbook Balance:
Previous Balance: $516.87
2. Write a check to your landlord for your half of the rent. The rent amount is $600.00.
Check:
Pay to the Order of: Landlord
Amount: $300.00
Memo: Rent Payment
Checkbook Balance:
Previous Balance: $516.87
Rent Payment: -$300.00
Updated Balance: $216.87
3. Write a check to your school for a parking ticket. The ticket amount is $50.00.
Check:
Pay to the Order of: School
Amount: $50.00
Memo: Parking Ticket Payment
Checkbook Balance:
Previous Balance: $216.87
Parking Ticket Payment: -$50.00
Updated Balance: $166.87
The new balance in your account after these transactions is $166.87.
To complete the deposit slip for December 10th, follow these steps:
1. Write the date, "December 10th", in the "Date" field on the deposit slip.
2. Write your name and account number in the "Account Number" field.
3. In the "Cash" section, write "75.00" in the "Amount" field and "Cash Back" in the "Description" field.
4. Write the total deposit amount, which is the cash back ($75.00), in the "Cash" row under the "Total" column.
5. Add the cash amount to your current balance: $516.87 + $75.00 = $591.87.
The new balance in your account after the deposit will be $591.87.
To complete the deposit slip, follow these steps:
1. Look for your bank's deposit slip. It should have your bank's name and logo.
2. Start by writing the date on the appropriate line. In this case, it would be December 10th.
3. Look for the line that says "Cash." Write the cash amount you would like to deposit in the appropriate box. Here, you would write $75.00.
4. Next, look for a line that says "Cash Back" or something similar. This is where you can indicate if you would like to receive cash back from your deposit. In this case, you want to get $75.00 cash back. Write this amount in the box next to "Cash Back" or a similar description.
5. Now, you need to determine the total amount you are depositing. Simply add the cash amount you are depositing with the cash back amount. In this case, $75.00 + $75.00 = $150.00.
6. Locate the line that says "Total" or "Amount." Write the total amount you are depositing in this box. Here, you would write $150.00.
7. Lastly, if there are any account numbers or additional fields required by your bank, make sure to complete those as well.
After completing the deposit slip, you would proceed to the bank and provide the slip along with your paycheck. The bank will process your deposit and give you $75.00 cash as requested.
To calculate the new balance in your account after this transaction, you would add the deposit amount to your current balance. In this case, $516.87 + $150.00 = $666.87. Therefore, the new balance in your account after this transaction would be $666.87.