On January 1, Jane's bank balance was $300. During the month, she wrote checks for $45,$55,$165,$35, and $100 and made deposits of $75,$25, and $400. What was the balance in Jane's account at the end of the month? Please help ASAP! I have no idea on how to start this! :(
Come on -- add the deposits, subtract the withdrawals, right?
300 - (45+55+165+35+100) + (75+25+400) = 400
To determine the balance in Jane's account at the end of the month, we will start with her initial bank balance and then calculate the impact of each transaction.
1. Jane's initial bank balance is $300.
2. She wrote a check for $45, so we subtract $45 from Jane's balance:
Balance = $300 - $45 = $255.
3. Jane wrote another check, this time for $55. Subtracting this amount from the previous balance:
Balance = $255 - $55 = $200.
4. She wrote a third check for $165. Subtracting this amount:
Balance = $200 - $165 = $35.
5. Jane then wrote a check for $35. Subtracting this amount:
Balance = $35 - $35 = $0.
6. Jane made her first deposit of $75. Adding this amount to the balance:
Balance = $0 + $75 = $75.
7. She made her second deposit of $25. Adding this amount:
Balance = $75 + $25 = $100.
8. Jane made her third and final deposit of $400. Adding this amount:
Balance = $100 + $400 = $500.
Therefore, the balance in Jane's account at the end of the month is $500.
To find the balance in Jane's account at the end of the month, we need to keep track of all the transactions and calculate the net amount.
1. Start with the initial balance: $300.
2. Subtract the amounts of the checks she wrote: $300 - $45 = $255
$255 - $55 = $200
$200 - $165 = $35
$35 - $35 = $0
$0 - $100 = -$100
So, the balance after subtracting the checks is -$100.
3. Add the amounts of the deposits she made: -$100 + $75 = -$25
-$25 + $25 = $0
$0 + $400 = $400
So, the balance after adding the deposits is $400.
Therefore, the balance in Jane's account at the end of the month is $400.