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

\begin{tabular}{|l|l|r|}
\hline
\multicolumn{2}{|l|}{Beginning Balance} & \multicolumn{1}{|c|}{[tex]$200.00$[/tex]} \\
\hline
19-Jul & ACH Outgoing Transfer & [tex]$\$[/tex](720.00)[tex]$ \\
\hline
20-Jul & Incoming App Transfer & $[/tex]\[tex]$2,000.00$[/tex] \\
\hline
23-Jul & ACH Incoming Transfer & [tex]$\$[/tex]25.00[tex]$ \\
\hline
24-Jul & E-bill Pay Utilities & $[/tex]\[tex]$(112.00)$[/tex] \\
\hline
\end{tabular}



Answer :

GinnyAnswer
To find out the ending balance on the account after the given transfers are completed, we start with the beginning balance and then apply each transfer one by one, adding deposits and subtracting withdrawals. Here's the detailed step-by-step solution:

1. Starting Point:
- Initial Balance: [tex]$200.00 2. First Transfer (19-Jul: ACH Outgoing Transfer): - Withdrawal: $[/tex]720.00
- New Balance: [tex]$200.00 - $[/tex]720.00 = [tex]$ -520.00 (since $[/tex]720.00 is outgoing, we subtract it from the balance)

3. Second Transfer (20-Jul: Incoming App Transfer):
- Deposit: [tex]$2000.00 - New Balance: $[/tex] -520.00 + [tex]$2000.00 = $[/tex]1480.00

4. Third Transfer (23-Jul: ACH Incoming Transfer):
- Deposit: [tex]$25.00 - New Balance: $[/tex]1480.00 + [tex]$25.00 = $[/tex]1505.00

5. Fourth Transfer (24-Jul: E-bill Pay Utilities):
- Withdrawal: [tex]$112.00 - New Balance: $[/tex]1505.00 - [tex]$112.00 = $[/tex]1393.00

After all the transfers are completed, the ending balance on the account is $1393.00.

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