Chapter 4

Checking Accounts
 Deposits
 How do you think most people receive their
pay from their employer?
 Terms to Know
 Deposit – Amount of money put into a bank account
 Automatic teller Machine (ATM) – Electronic withdrawal
or deposit
 Personal Identification Number (PIN) – A series of
numbers that allow access to an account at an ATM.
Deposit Slip
 4-1 Deposits
 Total Deposits = (currency + coins + checks) – Cash Received
(Money Back)

 For your birthday, you receive 2 checks, one is for $235.42 and another for $55.47.
You want to deposit the 2 checks, and keep $40 cash for the weekend. How much
would the total deposit be?

 Making a deposit:
 Check 1001 worth $235.42
 Check 302 worth + $55.47
$290.89
 Add the two above then, subtract the Cash Received (Back)
 Need $40 cash back
 Do Now
What is the total deposit?
 Account Number: 753 243 3332
 Check #201 = $235.42
 Check #304 = $55.47
 Cash Back = $40

$235.42
$55.47

$290.89
$40
$250.89
Deposit Slip #1

60
10
302.33
404.85

777.18
20
757.18
Deposit Slip #2

40
5
155.23
325.22

525.45
30
495.45
Deposit Slip #3

100

245.32
246.32

591.64
20
571.64
 Deposit Review
 Checks: $231.09 and $987.67
Cash 9 one-dollar bills, 9 five-dollar bills, 8 ten-dollar bills, 14
quarters, 25 dimes, 18 nickels, and 64 pennies. Less $40 (CR)
Cash Received. What is the total deposit?
 (231.09+987.67)+(9x1)+(9x5)+(8x10)+(14x.25)+(25x.10)+(18x.0
5)+(64x.01)= $1,360.30

 $1,360.30 – 40 =$1,320.30
 Deposits & Checks
 Classwork
 Page 180 (1&2) (15-18) *Show work
 When finished move onto numbers (5-14)

 Complete the worksheet handout show work

 Do Now
 Oliver Baker, School club treasurer, deposits the clubs receipts.
She has 4 checks for $10.00 each, 12 for $7.50 and cash
consisting of six 20-dollar bills, five 10-dollar bills, and 18 one-
dollar bills. What's the total deposit?
 Do Now
Deposits Review
 Lain Decker is making a daily deposit into her boss’ bank account.
She has checks in the amounts of $524.89, $326.96, and $287.39.
Her cash consists of 8 twenty-dollar bills, 10 ten-dollar bills, 9
five-dollar bills, and 18 one-dollar bills. She has coins in the
following denominations: 6 quarters, 18 dimes, 7 nickels, and 4
pennies. What is her total deposit?
 Check Writing 4-2
Lesson Goal
Learn the importance of using checks and
how to properly write a check.

Content Vocabulary check

checking account
checking account A paper
depositdocument directing
account held a bank
at a bank
check to
thatdeduct
gives money from youraccess
you convenient
checking account and make a
to your money.
payment to the person named on
the check.
 CHECKS
 What do we use checks for?
 Payment of funds to another party for goods or services.
 Has anyone ever wrote a check?
 CHECKS
 Their are many different ways to make payments,
How many can you name?
 Cash, Credit Card, Debit Card, Money Orders,
PayPal, Bitcoin, etc…

 Do you think checks will be outdated one day?

Why or Why Not?
 Importance of Paper Checks
 Some business charge extra fees for Credit Card Payments.
(third party processing fee)
 You can pay during Utility Outages. (Without electricity credit
card machines wont work)
 Some Business Prefer Paper Check or Money Orders.
 Importance of Paper Checks
 Some Retail Shops Enforce a Minimum of Credit Card
purchases.
 Checks are traceable.
 Gift Giving
 Checks are less costly than money orders.
 PROTECTING YOUR CHECKS
 Why is it important to protect and keep track of your checks ?
 PROTECTING YOURSELF
 Guard your checks.
 Record your check use.
 Only use checks when necessary.
 Securely Mail your checks.
 Be Cautious about what you print or Write on checks
 Check your account transactions.
 CHECKS VS CASH
 If you had to pay rent would you use a check or cash? Why?

 PAPER TRAIL
 4-2 Writing Checks
(Always use a PEN)
 Step 1: Write the date
 Step 2: Write the name of the person or organization to whom
payment will be made.
 Step 3: Write the amount of the check in numeral.
 Step 4: Write the amount of the check in words with
cents expressed as a fraction of a dollar.
 Step 5: Make a notation on the check to indicate its
purpose. (Memo)
 Step 6: Sign the Check.
Make out the following check for $156.92
Make out the following check for $246.75
 4-2 Check Writing
 Classwork

 Page 183-185
 #’s 1-22

 Classwork

 Worksheet Handout

 Make Checks out to Mr. Christopher Conway

 Do Now
 Write the following in word form: $277.89.
 (As if you are filling out a check)
Make out the following check for $352.32
Make out the following check for $122.52
Make out the following check for $246.75
 Classwork
 Worksheet From Workbooks
 Pages 46-48

 Blank Checks Worksheets

 Classwork
 Page 183-185
 #’s 1-22
 Do Now
 Lani Decker is making a daily deposit into her boss’ bank account.
She has checks in the amounts of $524.89, $326.96, and $287.39.
Her cash consists of 8 twenty-dollar bills, 10 ten-dollar bills, 9
five-dollar bills, and 18 one-dollar bills. She has coins in the
following denominations: 6 quarters, 18 dimes, 7 nickels, and 4
pennies. What is her total deposit?
 $1,465.93 total deposit
 Do Now
 Write the following in word form: $357.19.
 (As if you are filling out a check)

 Three hundred fifty-seven and 19/100-----------------Dollars

Lesson Objective
Calculate the balance in a check register.

Content Vocabulary
balance
check register
check register
The
A amount
record of money
of checking
balance account
you have deposits,
in an account.
withdrawal, and electronic
transfers.
 4-3 Check Registers
 A Check Register keeps a record of your deposits, electronic transfers,
and checks you have written. The Balance is the amount in your
account.
 Choose the correct formula to find the new balance:
 1: New balance = Previous balance – Check Amount –
Automatic Transfers

OR
 2: New Balance = Previous Balance + Deposit Amount
 Example 1
 The previous balance in your checking register is $345.98. You
make a deposit of $75.00. You write a check for $45.00. What is
your new balance?

 345.98+75- 45= $375.98

 Example 2
 Checking account balance is $313.54. You write a check for
$45.78 on March 2nd at Shoprite. The bank made an Automatic
Payment (AP) of $52.55 on March 3rd for Verizon Bill. You then
make a deposit for $240.32 on March 10th. Fill out the register.
What is your new balance?

313.54

101 3/2 Shoprite 45.78 267.76

AP 3/3 Verizon 52.55 215.21

AD 3/10 Deposit 240.32 $455.53

 Classwork
 Page 187-188 #’s1-9 (Check Register)

 Page 184 #’s 3-4 (Check Writing)

 Page 185 #’s 19-20 (Check Writing)

 ALWAYS SUBTRACT PAYMENTS/DEBITS

 ALWAYS ADD DEPOSITS/CREDITS
 Do Now
 Morgan Meers stopped at his bank to deposit his paycheck for
$201.20, a refund check from a store for $19.78, and deposit
$34.23 in cash. What was his total deposit?

 $255.21
 Check Register
Payment/Debit Deposit/Credit Balance

448.35

46.92 ? $401.43

216.84 ? $618.27

251.55 ? $366.72
 Check Register Review
 Your balance is $131.02 on April 4th
 Write a 31.28 check on April 9th
 Write a $45.92 check on April 14th
 At Deposit of paycheck for $215.48 on April 15.
 What is your new balance?

 $269.30
 Classwork
 Text Book Page 188
 Page #’s 6-8

 Workbook Pg. 49
 numbers #’s1-3

 Worksheet handout
 Check Register Balance

 Mac Valent opened a new checking account and

deposited his paycheck for $209.81. The check register
shows his transactions since opening his account. What
is his balance after each transaction?

Deposit/Cr Balance
Payment/D
Date Description edit
ebit(-)
(+)
$209.81

8/12 Electric 47.15 A?

8/18 Grocery 53.03 B?

Department
8/20 107.30 C?
Store
 Check Register Balance
 Mike’s checkbook balance was $149.21 on Oct. 5, 2015.
His check register shows his transaction since then. What
is his balance after each transaction?

Deposit/Cr
Payment/D Balance
Date Description edit
ebit(-)
(+)
$149.21
Pettisville
10/6 45.79 $103.42 A?
Flower
10/9 Deposit 213.80 $317.22 B?

10/10 Bookstore 16.94 $300.28 C?

10/19 Phone Co. 75.25 $225.03 D?

 Classwork
 Keep a Running Balance worksheet.

 Workbook
 4.3 check register
Do Now
 Your previous balance is $625.00. Find the
new balance if you write three checks in the
amount of $35.25, $33.28 and $123.50.

 Your previous balance is $336.36. Find the

new balance if the bank makes automated
transfers of $35.55, $42.38 and $55.26.
Do Now Answers
 1) $625-$35.25-$33.28-$123.50= $432.97

 2) $336.36 - $35.55 - $42.38 - $55.26=

$203.17
 Bank Statements
 Bank Statements are a statement of
all your account transactions sent to
you each month by your bank.
 It lists all your checks that the bank
has cleared, bills paid, transfers,
ATM transactions & fees (service
charges), and deposits recorded.
 Bank Statements are either mailed
to you or e-mailed to you.
 Notes
Lesson Objective
Calculate the current balance on a checking account
bank statement.

Content Vocabulary
bank
service
statement
charge

bank statement
From
Chargesyourbybank,
a bank,
listsfor
all
services
activityrendered,
in your to
service charge account.
your account.
 Bank Statements
 Formula:
Present balance = Previous balance + Deposits – Withdrawals –
Service Charges + Interest
 Example:
Your bank shows a previous balance of $944.50. You make deposits of
$755.50 and $210.40, and write checks for $355.50 and $125.50. You
have a $3.00 service charge and earn $.25 in interest. What is your
present balance?

944.50+755.50+210.40-355.50-125.50-3.00+.25= $1,426.65
 Bank Statements
 Calculate the Balance in
the Account?

913.40
554.54

672.40
 Concept Check
 Complete concept check
 Pg 190 #’s 1 &2

 What are you subtracting?

 What are you adding?

 Classwork

 Workbook Pg. 49
 #’s 1-3
 Workbook Pg. 50
 #’s 1-6

 Textbook Page 191 (#’s 4-11)

Do Now ( Collection Today)

Joey’s previous balance was $2,000. Last month he

made a cash deposit for $2,100. He wrote checks for
$1,500 and $380.00. In addition the bank charged
service fees totaling $8.00 and paid him $.75 in interest.
What is his present balance?
Do Now Answer!
 Joey’s previous balance was $2,000. Last month he
made a cash deposit for $2,100. He wrote checks
for $1,500 and $380.00. In addition the bank
charged service fees totaling $8.00 and paid him
$.75 in interest. What is his present balance?

 $2,000 + $2,100- ($1,500 + $380.00) – $8.00+

$0.75 =

 $2,000 + $2,100 - $1,880 -$8.00 +$0.75 =

$2,212.75
Announcements

 Quiz Tomorrow

 CTE Application Due 12/15 (Next Friday)

 Seniors Only
 Previous balance was 271.31 what is the new
balance?
Write down deposits, withdrawals and present
balance.
Bank Statement
Check/Date Amount Check/Date Amount Check/Date Amount
304 6/11 $19.45 305 6/15 $21.02 307 6/30 $95.98

Deposits/Credits Payments/Debits
Date Amount Description Date Amount Description

6/12 $115.90 Deli Payroll 6/26 $25.85 Crestview Gas

6/19 $115.90 Deli Payroll 6/28 $2.00 Service Charge

6/26 $345.85 Deposit

Previous Balance 271.31

Deposits 577.65

Withdrawals 164.30

Present Balance 684.66

 Previous balance was 323.31 what is the new
balance?
Write down deposits, withdrawals and present balance.

Bank Statement
Check/Date Amount Check/Date Amount Check/Date Amount

304 6/2 $19.45 305 6/7 $21.02 307 6/23 $95.98

Deposits/Credits Payments/Debits
Date Amount Description Date Amount Description

6/15 $500.25 Shoprite Payroll 6/23 $33.23 Deli

6/25 $234.23 Shoprite Payroll 6/29 $4.00 Service Charge

6/26 $323.34 Deposit

Previous Balance 323.31

Deposits 1057.82

Withdrawals 173.68

Present Balance 1207.45

Bank Statement

Your bank shows a previous balance of $1000.25.

You make deposits of $345.50 and $145.40, and
write checks for $235.34 and $124.83. You have a
$5.00 service charge and earn $0.34 in interest. What
is your present balance?

$1,126.32
Classwork

Workbook (worksheets) page 49

#’s 1-3
Workbook (Worksheets) page 50
#’s1-6

(Extra)Textbook Page 192 #’s 4-

11 & #12
 DO NOW

• WRITE THE FOLLOWING NUMBERS OUT IN

WORD FORM AS YOU WERE WRITING A
CHECK?
• $3,000.50
• $150.30
• $425.01
 DO NOW
• THREE THOUSAND AND 50/100 DOLLARS
• ONE HUNDRED FIFTY AND 30/100 DOLLARS
• FOUR HUNDRED TWENTY-FIVE AND 01/100
DOLLARS
BANK STATEMENT
RECONCILIATION
MR. CONWAY
Lesson Objective
Reconcile a check register with a bank account statement.

Content Vocabulary
reconcile reconcile
To compare your check register
with your bank statement to
make sure they agree.
• FORMULA:

ADJUSTED BALANCE = STATEMENT BALANCE –

OUTSTANDING CHECKS/PAYMENTS OR DEBITS +
OUTSTANDING DEPOSITS

EXAMPLE:
YOUR STATEMENT BALANCE IS $598.67. YOU HAVE AN
OUTSTANDING CHECK FOR $125.44 AND AN
OUTSTANDING DEBIT OF $235.42 THAT DIDN’T POST YET.
YOU ALSO HAVE OUTSTANDING DEPOSITS OF $231.98.
WHAT IS YOUR ADJUSTED BALANCE?
 TEXTBOOKS

• OPEN YOUR TEXTBOOKS TO PAGE 194-195 FOR EXAMPLE

2.
 RECONCILE REVIEW

• Margaret Miller’s check register balance is $2,261.50. She compares

her statement and check register. For each check and deposit listed on
her statement, she places a check mark next to the information in her
register. She notes that the bank paid her .86 in interest. Miller finds
these outstanding checks and deposits.
• Check #525 $341.50, Check #527 $266.25, Deposit $709.75
 Reconciliation Statement
CONCEPT CHECK
Check Registers $2,261.50 Statement Balance $2,160.36
Balance
A)
Service Charge Outstanding
0 Checks/Payments/Debits

Check 525 $341.50

B)
Interest .86 Check 527 $266.25
D)
Total Outstanding
Checks/Payments/Debits 607.75

(Outstanding
Deposits/Credits)
E)
Deposits 709.75
709.75
C) F)
New balance $2,262.36 Adjusted Balance $2,262.36
 Concept Check 3
Reconciliation Statement
CONCEPT CHECK
Check Registers $8,754.33 Statement Balance $11,158.49
Balance
A)
Service Charge Outstanding
1.20 Checks/Payments/Debits

Check 845 $751.75

B)
Interest 2.86 Check 847 $2,455.89
D)
Total Outstanding
Checks/Payments/Debits 3207.64

(Outstanding
Deposits/Credits)
E)
Deposits 805.14 805.14
C) F)
New balance $8,755.99 Adjusted Balance $8,755.99
 CLASSWORK

• TEXTBOOK PG. 195-196

• #’S 4-6

• USE FIGURE 4.9A, 4.9B & 4.9C TO FIND YOUR ANSWERS

ABOVE
 DO NOW
SHOW WORK

• YOUR STATEMENT BALANCE IS 900.50. YOU HAVE AN

OUTSTANDING CHECK FOR 220.25 AND AN OUTSTANDING
DEBIT OF 321.00 THAT DIDN’T POST YET. YOU ALSO HAVE
AN OUTSTANDING DEPOSIT OF 431.21. WHAT IS YOUR
ADJUSTED BALANCE?
 DO NOW ANSWER

• YOUR STATEMENT BALANCE IS 900.50. YOU HAVE AN

OUTSTANDING CHECK FOR 220.25 AND AN OUTSTANDING DEBIT OF
321.00 THAT DIDN’T POST YET. YOU ALSO HAVE AN OUTSTANDING
DEPOSIT OF 431.21. WHAT IS YOUR ADJUSTED BALANCE?
 NUMBER 6
Reconciliation Statement
CONCEPT CHECK
Check Registers $801.33 Statement Balance $648.35
Balance
A)
Service Charge Outstanding
$6.50 Checks/Payments/Debits
Check 049 $44.89
B)
Interest
$0
D)
Total Outstanding
Checks/Payments/Debits 44.89
(Outstanding
Deposits/Credits)
E)
Deposits 191.37
$191.37
C) F)
New check Adjusted Balance
register balance $794.83 $794.83
 RECONCILE REVIEW

• Margaret Miller’s check register balance is $2,261.50. She compares

her statement and check register. For each check and deposit listed on
her statement, she places a check mark next to the information in her
register. She notes that the bank paid her .86 in interest. Miller finds
these outstanding checks and deposits.
• Check #525 $341.50, Check #527 $266.25, Deposit $709.75
 Reconciliation Statement
CONCEPT CHECK
Check Registers $2,261.50 Statement Balance $2,160.36
Balance
A)
Service Charge Outstanding
0 Checks/Payments/Debits

Check 525 $341.50

B)
Interest .86 Check 527 $266.25
D)
Total Outstanding
Checks/Payments/Debits 607.75

(Outstanding
Deposits/Credits)
E)
Deposits 709.75
709.75
C) F)
New balance $2,262.36 Adjusted Balance $2,262.36
 DO NOW (COLLECTION TODAY)
Previous Interest Deposit Withdrawa New
Bal. ls Balance
355.25 2.25 125.25 65.32 ?

Find the new balance

DO NOW ANSWER
ONLINE BANKING
MR. CONWAY
Lesson Objective
Compute online banking charges and update the
check register.

Content Vocabulary
online banking online banking
Internet banking allows you to
view your account, pay bills,
and transfer money any time.
 ONLINE BANKING FORMULA

• FORMULA:
TOTAL FEES = BASIC CHARGE + BILL PAYMENTS +
STATEMENT + ATM SURCHARGES +CASH
ADVANCE FEE.
 ONLINE BANKING
EXAMPLE: ALYSSA PEREZ USES ONLINE BANKING FOR HER
BUSINESS, ALYSSA’S PERSONAL SHOPPING. SHE PAYS THE
SERVICE CHARGE AND 7 BILLS, AND SHE REQUESTS A PRINTED
STATEMENT. SHE ALSO HAS ATM TRANSACTIONS, INCLUDING 1
OUT OF NETWORK, AND A CASH ADVANCE OF $400. WHAT IS HER
TOTAL SERVICE CHARGE INCLUDING FEES FOR THE MONTH?
6.95+(2*.50)+4.00+3.00+(400*2%)= $22.95
$1.00 $8.00
Online Banking Service Charge ATM Transaction Log
Service Local N/C
Basic monthly 6.95 Network
service charge
Regional 1.00
Bill payment- .50 Network
first 5 N/C
Printed Statement 4.00 National 2.00
Network
Replace Lost 5.00
Card Out of 3.00
Overdraft 25.00 Network
International Wire 20.00 Cash 10.00 Max
Transfer Advance 2%
 CONCEPT CHECK
• Use Figure 4.10 on page 197 to compute the total service charge in the following problems.
Check your answers in the back of the back.

• Alan bookers service charges: basic charge, 8 bills paid, a lost

card replacement, and 4 ATM transactions, 2 national and 2
out-of-network.
• $6.95+(3x$0.50)+5.00+(2x$2.00)+(2x$3.00)= $23.45
$1.50 $4.00 $6.00

• Cindy Parker’s Service charges: the basic charge, 6 bills paid,

1 overdraft, 3 regional ATM transactions, and a $500 advance.
• 6.95+ .50 + 25 + (3*1.00) + ($500x2%)= $45.45

$3.00 $10
 CLASSWORK

• PAGE 200-201 #’S 3-6

• *SHOW WORK*

• (EXTRA TIME) WORKSHEET HANDOUT

 ONLINE BANKING
EXAMPLE: MICHELLE USES ONLINE BANKING FOR HER
BUSINESS. SHE PAYS THE MONTHLY CHARGE AND 10
BILLS, AND SHE REPLACED HER CARD. SHE ALSO HAS 1
REGIONAL ATM TRANSACTION, AND A CASH ADVANCE OF
$1,000. WHAT IS HER TOTAL SERVICE CHARGE INCLUDING
FEES FOR THE MONTH?
$6.95 + (5*.50) +5.00+ 1.00 + (1,000x2%)= $25.45
2.50 20 (Max of 10)
Online Banking Service Charge ATM Transaction Log
Service Local Network N/C
Basic monthly charge 6.95

Bill payment- first 5 .50 Regional 1.00

N/C Network
Printed Statement 4.00
National 2.00
Network
Replace Lost Card 5.00
Out of 3.00
Overdraft 25.00
Network
International Wire 20.00
Cash Advance 10.00 Max
Transfer
2%
ONLINE BANKING REVIEW
Date Amount Check Description
Number
04/01/2014 1661.57 Deposit
04/01/2014 .50 Bill Fee
04/01/2014 38.49 1290 Verizon Bill

Joe had these online transactions on April 1.

Note the Balance is $500.00. Using the
information above fill in the check register
handout.
 ONLINE BANKING REVIEW
Transacti Date Descriptio Paymen Deposit/Cre Balance
on/Type n t dit

$500.00
AT 4/1 Deposit 1661.57 $2,161.57
Online 4/1 Bill .50 $2,161.07
Payment

Online 4/1 Bill 38.49 $2,122.58

Payment
Service Fee ATM Transaction Fee
Charges
Basic Monthly 5.95 Local Network No Charge
Bill Payment .50 Regional Network 1.50
First 5 N/C surcharge
Printed Statement 3.00 National Network 2.22
Surcharge
Replace Lost Card 6.00 Out of Network 3.75
Surcharge
Overdraft 50.00 Cash Advance 2%

Bill uses online banking. He pays the basic monthly charge, pays
7 bills and requested a printed statement. He also has ATM
transaction that include 2 out of network, 1 regional, requested a
new debit card and a cash advance for $400.00. What are his total
fees for the month?
 ANSWER
• BILL USES ONLINE BANKING. HE PAYS THE BASIC MONTHLY
CHARGE, PAYS 7 BILLS, REQUEST A PRINTED STATEMENT AND
REQUESTED A NEW DEBIT CARD. HE ALSO HAS ATM TRANSACTION
THAT INCLUDE 2 OUT OF NETWORK, 1 REGIONAL AND A CASH
ADVANCE FOR $400.00.
 CLASSWORK

• PAGE 200-201 #’S 3-6

• *SHOW WORK*

• (EXTRA TIME) WORKSHEET HANDOUT

 DO NOW
CHECK REGISTER

• The previous balance in your checking register is

$345.98. You make a deposit of $75.00. You write a
check for $45.00. What is your new balance?

• 345.98 + 75 - 45= $375.98

 Bank Statement
• Your bank shows a previous balance of $1,000.25.
You make deposits of $345.50 and $145.40, and
write checks for $235.34 and $124.83. You have a
$5.00 service charge and earn $0.34 in interest.
What is your present balance?

• 1000.25+345.50+145.40-235.34-124.83-5+.34=
$1,126.32