Answer :
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.
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.