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Laabri

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

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Last updated over 1 year ago
11 Nsɛmmisa
Hyɛ no nsow a efi ɔkyerɛwfo no hɔ:

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.

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.

Ɛhia
40
Asemmisa {{asɛmmisaAhyɛnsode}}
11.

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

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

Ɛhia
2
Ɛhia
5
Ɛhia
2
Ɛhia
10
Ɛhia
2
Ɛhia
2
Ɛhia
2
Ɛhia
10
Ɛhia
2
Ɛhia
2

Part I: Read The Fine Print

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

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1.

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

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2.

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

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3.

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

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4.

Most employers will pay their employees by directly depositing their paycheck into their checking account. According to his checking account statement, John was paid

$ every weeks

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5.

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

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6.

Which statement is true regarding Check No. - 409?

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7.

Which transaction caused John to overdraw his account?

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8.

What was the result of John overdrawing his checking account?

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9.

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

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10.

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