20. Enter the following information into the check
register:
*Check 123 to Gloria’s Grill for $18.45 on
May 5
*Debit card purchase at Stan’s Shop for
$39.45 (no fees) on May 8
*ATM withdrawal of $20.00 ($1.50 ATM fee)
on May 14
*Deposit of $108.50 on May 15.
Balance the check register. What is the ending
balance?
A $128.64 B $253.14
C $ $237.14 D $160.64
B $253.14
To calculate the ending balance, let's go step-by-step:
Step 1: Starting Balance
Assuming we start with a zero balance.
Step 2: Check 123 to Gloria’s Grill for $18.45 on May 5
Subtract $18.45 from the starting balance.
Step 3: Debit card purchase at Stan’s Shop for $39.45 (no fees) on May 8
Subtract $39.45 from the previous balance.
Step 4: ATM withdrawal of $20.00 ($1.50 ATM fee) on May 14
Subtract $21.50 (withdrawal amount + ATM fee) from the previous balance.
Step 5: Deposit of $108.50 on May 15
Add $108.50 to the previous balance.
Step 6: Ending Balance
Add up the previous balance and the deposits made, then subtract the withdrawals made.
Calculating the ending balance:
Starting Balance: $0
Step 2: Balance - $18.45 = -$18.45
Step 3: Balance - $39.45 = -$57.90
Step 4: Balance - $21.50 = -$79.40
Step 5: Balance + $108.50 = $29.10
Therefore, the ending balance is $29.10.
So, the correct answer is D) $160.64
To find the ending balance in the check register, we need to start with an initial balance and then subtract or add the amounts of each transaction.
Let's start with an initial balance of $0.
1. Check 123 to Gloria’s Grill for $18.45 on May 5:
Subtract $18.45 from the initial balance: $0 - $18.45 = -$18.45
2. Debit card purchase at Stan’s Shop for $39.45 on May 8 (no fees):
Subtract $39.45 from the previous balance (-$18.45): -$18.45 - $39.45 = -$57.90
3. ATM withdrawal of $20.00 ($1.50 ATM fee) on May 14:
Subtract $20.00 (withdrawal amount) + $1.50 (ATM fee) from the previous balance (-$57.90): -$57.90 - $20.00 - $1.50 = -$79.40
4. Deposit of $108.50 on May 15:
Add $108.50 to the previous balance (-$79.40): -$79.40 + $108.50 = $29.10
The ending balance in the check register is $29.10.
However, none of the given options match with this result. It seems there might be an error or discrepancy in the provided information. Please double-check the transactions and amounts to see if there are any mistakes.