1.6 FINE PRINT: Checking Account Statement (Due 8-26-22 SOC)

Last updated about 1 year ago

11 questions

Note from the author:

In this activity, you will explore a checking account statement in more detail to understand its various components. Then, you will answer questions using the sample statement below.

Instructions

In this activity, you will explore a checking account statement in more detail to understand its various components. Then, you will answer questions using the sample statement below.

Part I: Read The Fine Print
Analyze this sample checking account statement and answer the questions that follow.

Required

Why is it important to review your checking account statement? UCS
_______ 

What fees might this help you avoid? Explain your answer. UCS
_______ 

1.6 FINE PRINT: Checking Account Statement (Due 8-26-22 SOC)

1.6 FINE PRINT: Checking Account Statement (Due 8-26-22 SOC)

Part I: Read The Fine Print

Analyze this sample checking account statement and answer the questions that follow.

Part I: Read The Fine Print

Analyze this sample checking account statement and answer the questions that follow.

How frequently does John typically receive account statements from his bank?

How much did John Jones have in his account on the first day of the statement period?

John has two ATM transactions but only one of them has a fee (Interac). Why?

What is the impact of the Online Funds Transfer - From Savings that appears on John's statement?

Which statement is true regarding Check No. - 409?

Which transaction caused John to overdraw his account?

What was the result of John overdrawing his checking account?

Which fees was John charged on his checking account during this statement period?

What is the mathematical formula that you would use to describe the financial activity on a bank statement?

How frequently does John typically receive account statements from his bank?

How much did John Jones have in his account on the first day of the statement period?

John has two ATM transactions but only one of them has a fee (Interac). Why?

What is the impact of the Online Funds Transfer - From Savings that appears on John's statement?

Which statement is true regarding Check No. - 409?

Which transaction caused John to overdraw his account?

What was the result of John overdrawing his checking account?

Which fees was John charged on his checking account during this statement period?

What is the mathematical formula that you would use to describe the financial activity on a bank statement?