Answer :
Let's break down the steps and fill in Mike's checking account register systematically.
1. Beginning Balance: The starting balance in the checking account is \[tex]$125.36. This is given at the start. 2. Electric Bill: On 3/15 (Check 001), Mike paid an electric bill of \$[/tex]36.51. This is a debit transaction that reduces the balance.
[tex]\[ \text{Balance after Electric Bill} = \$125.36 - \$36.51 = \$88.85 \][/tex]
Now, the register is updated:
\begin{tabular}{|c|c|c|c|c|c|c|}
\hline Check & Date & Transaction & [tex]$(-)$[/tex] Debit & [tex]$\checkmark$[/tex] & [tex]$(+)$[/tex] Deposit & Balance \\
\hline & & Beginning & & & & 125.36 \\
\hline 001 & [tex]$3 / 15$[/tex] & Electric Bill & 36.51 & & & 88.85 \\
\hline
\end{tabular}
3. Cash Gift: On 3/16, Mike received a cash gift of \[tex]$50.00. This is an addition to the account, increasing the balance. \[ \text{Balance after Cash Gift} = \$[/tex]88.85 + \[tex]$50.00 = \$[/tex]138.85
\]
Now, the register is updated:
\begin{tabular}{|c|c|c|c|c|c|c|}
\hline Check & Date & Transaction & [tex]$(-)$[/tex] Debit & [tex]$\checkmark$[/tex] & [tex]$(+)$[/tex] Deposit & Balance \\
\hline & & Beginning & & & & 125.36 \\
\hline 001 & [tex]$3 / 15$[/tex] & Electric Bill & 36.51 & & & 88.85 \\
\hline & [tex]$3 / 16$[/tex] & Cash Gift & & & 50.00 & 138.85 \\
\hline
\end{tabular}
4. ATM Withdrawal: On 3/17, Mike took out \[tex]$20.00 from the ATM for movies. This transaction is a debit, reducing the balance. \[ \text{Balance after ATM Withdrawal} = \$[/tex]138.85 - \[tex]$20.00 = \$[/tex]118.85
\]
Now, the register is updated:
\begin{tabular}{|c|c|c|c|c|c|c|}
\hline Check & Date & Transaction & [tex]$(-)$[/tex] Debit & [tex]$\checkmark$[/tex] & [tex]$(+)$[/tex] Deposit & Balance \\
\hline & & Beginning & & & & 125.36 \\
\hline 001 & [tex]$3 / 15$[/tex] & Electric Bill & 36.51 & & & 88.85 \\
\hline & [tex]$3 / 16$[/tex] & Cash Gift & & & 50.00 & 138.85 \\
\hline & [tex]$3 / 17$[/tex] & ATM Withdrawal & 20.00 & & & 118.85 \\
\hline
\end{tabular}
5. Transfer from Savings: Also on 3/17, Mike transferred \[tex]$36.00 to his checking account from his savings account. This is a deposit, increasing the balance. \[ \text{Ending Balance} = \$[/tex]118.85 + \[tex]$36.00 = \$[/tex]154.85
\]
Now, the register is updated completely:
\begin{tabular}{|c|c|c|c|c|c|c|}
\hline Check & Date & Transaction & [tex]$(-)$[/tex] Debit & [tex]$\checkmark$[/tex] & [tex]$(+)$[/tex] Deposit & Balance \\
\hline & & Beginning & & & & 125.36 \\
\hline 001 & [tex]$3 / 15$[/tex] & Electric Bill & 36.51 & & & 88.85 \\
\hline & [tex]$3 / 16$[/tex] & Cash Gift & & & 50.00 & 138.85 \\
\hline & [tex]$3 / 17$[/tex] & ATM Withdrawal & 20.00 & & & 118.85 \\
\hline & [tex]$3 / 17$[/tex] & Transfer from Savings & & & 36.00 & 154.85 \\
\hline
\end{tabular}
So, the letters represent:
- [tex]\( A = 20.00 \)[/tex] (ATM Withdrawal)
- [tex]\( B = 118.85 \)[/tex] (Balance after ATM Withdrawal)
- [tex]\( C = 36.00 \)[/tex] (Transfer from Savings)
- [tex]\( D = 36.00 \)[/tex] (Deposit for Transfer)
- [tex]\( E = 154.85 \)[/tex] (Ending Balance)
The completed table should look like this:
\begin{tabular}{|c|c|c|c|c|c|c|}
\hline Check & Date & Transaction & [tex]$(-)$[/tex] Debit & [tex]$\checkmark$[/tex] & [tex]$(+)$[/tex] Deposit & Balance \\
\hline & & Beginning & & & & 125.36 \\
\hline 001 & [tex]$3 / 15$[/tex] & Electric Bill & 36.51 & & & 88.85 \\
\hline & [tex]$3 / 16$[/tex] & Cash Gift & & & 50.00 & 138.85 \\
\hline & [tex]$3 / 17$[/tex] & ATM Withdrawal & 20.00 & & & 118.85 \\
\hline & [tex]$3 / 17$[/tex] & Transfer from Savings & & & 36.00 & 154.85 \\
\hline
\end{tabular}
1. Beginning Balance: The starting balance in the checking account is \[tex]$125.36. This is given at the start. 2. Electric Bill: On 3/15 (Check 001), Mike paid an electric bill of \$[/tex]36.51. This is a debit transaction that reduces the balance.
[tex]\[ \text{Balance after Electric Bill} = \$125.36 - \$36.51 = \$88.85 \][/tex]
Now, the register is updated:
\begin{tabular}{|c|c|c|c|c|c|c|}
\hline Check & Date & Transaction & [tex]$(-)$[/tex] Debit & [tex]$\checkmark$[/tex] & [tex]$(+)$[/tex] Deposit & Balance \\
\hline & & Beginning & & & & 125.36 \\
\hline 001 & [tex]$3 / 15$[/tex] & Electric Bill & 36.51 & & & 88.85 \\
\hline
\end{tabular}
3. Cash Gift: On 3/16, Mike received a cash gift of \[tex]$50.00. This is an addition to the account, increasing the balance. \[ \text{Balance after Cash Gift} = \$[/tex]88.85 + \[tex]$50.00 = \$[/tex]138.85
\]
Now, the register is updated:
\begin{tabular}{|c|c|c|c|c|c|c|}
\hline Check & Date & Transaction & [tex]$(-)$[/tex] Debit & [tex]$\checkmark$[/tex] & [tex]$(+)$[/tex] Deposit & Balance \\
\hline & & Beginning & & & & 125.36 \\
\hline 001 & [tex]$3 / 15$[/tex] & Electric Bill & 36.51 & & & 88.85 \\
\hline & [tex]$3 / 16$[/tex] & Cash Gift & & & 50.00 & 138.85 \\
\hline
\end{tabular}
4. ATM Withdrawal: On 3/17, Mike took out \[tex]$20.00 from the ATM for movies. This transaction is a debit, reducing the balance. \[ \text{Balance after ATM Withdrawal} = \$[/tex]138.85 - \[tex]$20.00 = \$[/tex]118.85
\]
Now, the register is updated:
\begin{tabular}{|c|c|c|c|c|c|c|}
\hline Check & Date & Transaction & [tex]$(-)$[/tex] Debit & [tex]$\checkmark$[/tex] & [tex]$(+)$[/tex] Deposit & Balance \\
\hline & & Beginning & & & & 125.36 \\
\hline 001 & [tex]$3 / 15$[/tex] & Electric Bill & 36.51 & & & 88.85 \\
\hline & [tex]$3 / 16$[/tex] & Cash Gift & & & 50.00 & 138.85 \\
\hline & [tex]$3 / 17$[/tex] & ATM Withdrawal & 20.00 & & & 118.85 \\
\hline
\end{tabular}
5. Transfer from Savings: Also on 3/17, Mike transferred \[tex]$36.00 to his checking account from his savings account. This is a deposit, increasing the balance. \[ \text{Ending Balance} = \$[/tex]118.85 + \[tex]$36.00 = \$[/tex]154.85
\]
Now, the register is updated completely:
\begin{tabular}{|c|c|c|c|c|c|c|}
\hline Check & Date & Transaction & [tex]$(-)$[/tex] Debit & [tex]$\checkmark$[/tex] & [tex]$(+)$[/tex] Deposit & Balance \\
\hline & & Beginning & & & & 125.36 \\
\hline 001 & [tex]$3 / 15$[/tex] & Electric Bill & 36.51 & & & 88.85 \\
\hline & [tex]$3 / 16$[/tex] & Cash Gift & & & 50.00 & 138.85 \\
\hline & [tex]$3 / 17$[/tex] & ATM Withdrawal & 20.00 & & & 118.85 \\
\hline & [tex]$3 / 17$[/tex] & Transfer from Savings & & & 36.00 & 154.85 \\
\hline
\end{tabular}
So, the letters represent:
- [tex]\( A = 20.00 \)[/tex] (ATM Withdrawal)
- [tex]\( B = 118.85 \)[/tex] (Balance after ATM Withdrawal)
- [tex]\( C = 36.00 \)[/tex] (Transfer from Savings)
- [tex]\( D = 36.00 \)[/tex] (Deposit for Transfer)
- [tex]\( E = 154.85 \)[/tex] (Ending Balance)
The completed table should look like this:
\begin{tabular}{|c|c|c|c|c|c|c|}
\hline Check & Date & Transaction & [tex]$(-)$[/tex] Debit & [tex]$\checkmark$[/tex] & [tex]$(+)$[/tex] Deposit & Balance \\
\hline & & Beginning & & & & 125.36 \\
\hline 001 & [tex]$3 / 15$[/tex] & Electric Bill & 36.51 & & & 88.85 \\
\hline & [tex]$3 / 16$[/tex] & Cash Gift & & & 50.00 & 138.85 \\
\hline & [tex]$3 / 17$[/tex] & ATM Withdrawal & 20.00 & & & 118.85 \\
\hline & [tex]$3 / 17$[/tex] & Transfer from Savings & & & 36.00 & 154.85 \\
\hline
\end{tabular}
