Complete the table below.
Answer (2)
Subtract Joe's Market check: $349.45 - $23.42 = $326.03
Subtract West High check: $326.03 - $14.95 = $311.08
Add Paycheck deposit: $311.08 + $276.50 = $587.58
Subtract Saguaro Mortgage check: $587.58 - $219.93 = $367.65
Subtract Alamo Power and Light check: $367.65 - $76.84 = $290.81
The final balances are: $\boxed{$326.03, $311.08, $587.58, $367.65, 290.81}
Explanation
Understanding the Problem We are given a series of transactions (checks and deposits) and an initial balance. Our goal is to calculate the balance after each transaction. We will proceed step by step, subtracting the amount of each check and adding the amount of each deposit to the current balance to find the new balance.
Balance after Joe's Market First, we start with the initial balance of $349.45 and subtract the amount of the check to Joe's Market, which is $23.42. This gives us the new balance: 349.45 − 23.42 = 326.03 So, the balance after the first transaction is $326.03.
Balance after West High Next, we subtract the amount of the check to West High (books), which is $14.95, from the current balance of $326.03. This gives us the new balance: 326.03 − 14.95 = 311.08 So, the balance after the second transaction is $311.08.
Balance after Paycheck Deposit Now, we add the amount of the paycheck deposit, which is $276.50, to the current balance of $311.08. This gives us the new balance: 311.08 + 276.50 = 587.58 So, the balance after the third transaction is $587.58.
Balance after Saguaro Mortgage Next, we subtract the amount of the check to Saguaro Mortgage, which is $219.93, from the current balance of $587.58. This gives us the new balance: 587.58 − 219.93 = 367.65 So, the balance after the fourth transaction is $367.65.
Balance after Alamo Power and Light Finally, we subtract the amount of the check to Alamo Power and Light, which is $76.84, from the current balance of $367.65. This gives us the new balance: 367.65 − 76.84 = 290.81 So, the balance after the fifth transaction is $290.81.
Final Answer Therefore, the balances after each transaction are: $326.03, $311.08, $587.58, $367.65, and $290.81.
Examples
Managing a checking account involves tracking deposits and expenses to ensure funds are available when needed. This is similar to managing inventory in a store, where you need to keep track of what comes in (supplies) and what goes out (sales) to make sure you don't run out of stock. Understanding how to calculate balances after each transaction helps in both personal finance and business management, ensuring accurate financial records and preventing overdrafts or stockouts. This skill is crucial for budgeting, financial planning, and making informed decisions about spending and saving.
To calculate the balance after various transactions, we start with an initial amount and subtract or add the corresponding checks and deposits step by step. The final balances after each transaction are $326.03, $311.08, $587.58, $367.65, and $290.81. Each step involves a simple mathematical operation, allowing for clear tracking of finances.
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