The opening balance in your checking account was $1000. During the month you had the following activity: wrote checks for $45.00 and $75.00 but only the first one cleared; had debit card transactions for $50 and $35.20; received a bank charge for the account of $6, deposited a check you received from a friend for $100 but it did not clear by month end. What is your month end account balance?

Question

Quizplus · Accepted Answer

The opening balance is $1000. Subtract the cleared check of $45, debit card transactions of $50 and $35.20, and the bank charge of $6. The deposit of $100 did not clear, so it is not added. The calculation is: $1000 - $45 - $50 - $35.20 - $6 = $863.80.

The Opening Balance in Your Checking Account Was $1000