Question

Richard’s checkbook register as of 02/19: Check # Date Description of Transaction Payment/Debit (-) Fee (-) Deposit/Credit (+) Balance 02/03 Deposit $900.00 $900.00 02/05 Deposit - Paycheck $390.36 $1,290.36 201 02/05 Blue Sky Apartments $455.00 $835.36 202 02/07 Renter’s Insurance $125.40 $709.96 203 02/18 Online Clothing Purchase $155.44 $554.52 02/19 Deposit - Paycheck $390.36 $944.88 Enter the following transactions into Richard’s checkbook register and state his ending balance: Date Type Description Amount 03/01 Check #204 Blue Sky Apartments $455.00 03/05 DEP Payroll automatic deposit $390.36 03/08 Debit Benny’s Hamburgers and Fries $9.20 03/15 Check #205 Car payment $251.59 03/19 DEP Payroll automatic deposit $390.36 a. $715.79 b. $1,009.81 c. $780.72 d. $880.24

Answer 1

The correct answer is:

B) $1,009.81

Explanation:

When we begin the problem, Richard has $944.88 in his account.

After paying his rent, Check #204 to Blue Sky Apartments for $455.00, he has 944.88-455 = $489.88.

After he is paid, an automatic deposit for $390.36, he has 489.88+390.36 = $880.24.

After he goes out to eat, debit to Benny’s Hamburgers and Fries for $9.20, he has 880.24-9.20 = $871.04.

After making his car payment, Check #205 for $251.59, he has 871.04-251.59 = $619.45.

After he gets paid, automatic deposit for $390.36, he has 619.45+390.36 = $1009.81.

Answer 2

Based on the information given, the correct option will be B.$1,009.81.

How to calculate the ending balance.

It should be noted that the opening balance in the account is $944.88. After paying his rent for $455.00, the balance will be:

= $944.88 - $455

= $489.88.

After he is paid, he deposited $390.36, then the new balance will be:

= $489.88 + $390.36

= $880.24.

After he goes out to eat, debit to Benny’s Hamburgers and Fries for $9.20, he will have:

= $880.24 - $9.20

= $871.04.

Then, he made a car payment, Check #205 for $251.59, he will have:

= $871.04 - $251.59

= $619.45.

Finally, he gets paid, automatic deposit for $390.36, he will then have:

= $619.45 + $390.36

= $1009.81.

In conclusion, the correct option is $1009.81.

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