duckiesaur8bread
Answered

What is the ending balance on this account after these transfers are completed?

\begin{tabular}{|l|l|r|}
\hline \multicolumn{2}{|c|}{ Beginning Balance } & \[tex]$900.00 \\
\hline 19-Jul & ACH Outgoing Transfer & \$[/tex](820.00) \\
\hline 20-Jul & Incoming App Transfer & \[tex]$2,800.00 \\
\hline 23-Jul & ACH Incoming Transfer & \$[/tex]30.00 \\
\hline 24-Jul & E-bill Pay Utilities & \$(105.00) \\
\hline
\end{tabular}

Calculate the ending balance.



Answer :

GinnyAnswer
To determine the ending balance on this account after all the transactions are completed, we will follow the sequence of the transactions step-by-step:

1. Initial Balance:
The balance at the beginning is [tex]$900.00. 2. Transaction on 19-Jul: - Description: ACH Outgoing Transfer - Amount: $[/tex] -820.00[tex]$ - Calculation: $[/tex]900.00 - 820.00 = 80.00[tex]$ - New Balance: $[/tex]80.00

3. Transaction on 20-Jul:
- Description: Incoming App Transfer
- Amount: [tex]$2,800.00 - Calculation: $[/tex]80.00 + 2,800.00 = 2,880.00[tex]$ - New Balance: $[/tex]2,880.00

4. Transaction on 23-Jul:
- Description: ACH Incoming Transfer
- Amount: [tex]$30.00 - Calculation: $[/tex]2,880.00 + 30.00 = 2,910.00[tex]$ - New Balance: $[/tex]2,910.00

5. Transaction on 24-Jul:
- Description: E-bill Pay Utilities
- Amount: [tex]$ -105.00$[/tex]
- Calculation: [tex]$2,910.00 - 105.00 = 2,805.00$[/tex]
- New Balance: [tex]$2,805.00 By following these steps and calculating the balance after each transaction, the ending balance on the account is $[/tex]2,805.00.