Deposits Checks Check Registers Skill 09 Deposits 4

Deposits, Checks & Check Registers Skill #09

Deposits 4. 2 a

Deposit paychecks in the bank. Now most businesses will do automatic deposit. Money can also be deposited through an ATM machine. Here you just need to punch in your PIN number.

Filling out a Deposit slip… Need to fill in the date account number (savings or checking) cash and coins to be deposited each of the checks to be deposited Add up the total of everything to be deposited Subtract amount you wish to withdraw in cash When money is withdrawn the deposit slip needs to be signed

Fill out the deposit slip… Suppose you received a check from your place of employment worth $89. 75, a $25. 00 rebate check from the doctor, and a $500. 00 tax rebate. You also plan on depositing $23. 45 in coins. However, you need to withdraw $50. 00 in cash as well.

Fill out the deposit slip… Suppose you received a check from your place of employment worth $435. 50, a $50. 00 rebate check from the doctor, and a $250. 00 tax rebate. You also plan on depositing $26. 54 in coins. However, you need to withdraw $100. 00 in cash as well.

Suppose you are asked to discover the total of 23 one-dollar bills, 4 five-dollar bills, 7 ten-dollar bills, 3 twenty-dollar bills, 16 quarters, 40 dimes, 32 nickels, and 13 pennies.

Writing Checks 4. 2 b

It is a good idea to have a checking account this allows one to write check and deposit money into the account. Credit cards can be set up to pay off the bills automatically as well.

Writing a Check… Use a Pen Write the Date Write the name of the person/business to be paid Write the amount, in numerals Write the amount in words Make note in Memo slot Signature

Write the amount in words… $123. 35 One hundred twenty-three dollars and thirty-five cents $1, 760. 83 One thousand seven hundred sixty dollars and eighty-three cents $80. 47 Eighty dollars and forty-seven cents $4, 558. 35 Four thousand five hundred fifty-eight dollars and thirty-five cents

Fill out a checks for the given amount… $87. 50 To: Walmart From: Matt Thomas

Fill out a checks for the given amount… $2, 350. 00 To: Hank’s Auto Care From: Johnny Jones

Fill out a checks for the given amount… $61. 27 To: Dollar General From: Betty Smith

Check Registers 4. 3 c

A good way to keep track of all of your money activity is to write it down in a check register. A check register keeps track of deposits, deposits checks written, written electronic transfers, transfers and any time a debit card is used.

The balance is the amount of money in the account. It is essential to keep the check register balanced and accurate or it will be impossible to track the inflow and outflow of money.

How to calculate the balance of a checking account… New Balance = Previous Balance - Check Amount - Automatic Transfers OR New Balance = Previous Balance Deposit + Amount

Find the current balance… The previous balance in Bob’s check register was $458. 37. He made a deposit of $85. 00 then wrote a check for 36. 50. Find Bob’s current balance.

Find the current balance by filling in the check register… Lisa Pearson had a checking account balance of $515. 25. On September 2 she wrote a check to Fairway for $65. 43. On September 5 the bank made an automatic transfer of $45. 05 for the electric bill. Then on September 10 she deposited a paycheck worth $367. 50. Find Lisa’s new balance.

#09: Deposits, Checks, & Check Registers � Summarize � Homework ◦ Worksheet your notes