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# Aim: How can we balance our checkbook accurately to keep a record of our finances? - PowerPoint PPT Presentation

Aim: How can we balance our checkbook accurately to keep a record of our finances? . Do Now: 1. Get calculator 2. Kelly is a bank teller. She earns \$13.50 per hour. How many hours per week must she work if she wants to earn at least \$550.00 per week?. Tuesday Oct. 14, 2013. Calculating pay:.

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### Aim: How can we balance our checkbook accurately to keep a record of our finances?

Do Now: 1. Get calculator

2. Kelly is a bank teller. She earns \$13.50 per hour. How many hours per week must she work if she wants to earn at least \$550.00 per week?

Tuesday Oct. 14, 2013

Calculating pay: record of our finances?

• Marneyis a sales associate. She earns an hourly rate of \$9.40 and time and a half if she works any overtime. Last week she worked 28 hours plus 6 hours overtime. What is Marney’s:

a) straight-time pay

b) overtime pay

c) total pay

Aim: How can we balance our checkbook accurately to keep a record of our finances?

Checking Accounts:

Checking accounts are used for depositing

currency and checks and for writing checks to

pay expenses. A checking account is a safe

place to hold money, and its records provide

information for tracking expenses.

Terms

• Currency

• Deposit

Aim: How can we balance our checkbook accurately to keep a record of our finances?

Transaction Vocabulary

Checks, currency or coins put into a bank account: ____________

Taking money out of a bank account: ________

Aim: How can we balance our checkbook accurately to keep a record of our finances?

Bank Statements/Reconciliations

In the present day most people have moved

away from using a checkbook to balance their

account.

Why is it important to check the bank

statement/reconciliation if you are not going to

use a checkbook?

Aim: How can we balance our checkbook accurately to keep a record of our finances?

Checking for Understanding

Christopher’s checking account has a beginning balance of \$576.34. He wrote two checks. The first one was for \$123.90. he forgot to record the second check in his checkbook. His current balance is \$235.78. What was the amount of the second check?

Calculating pay: record of our finances?

• Mariana is a licensed physical therapist assistant. She earns an hourly rate of \$10.50 and time and a half if she works any overtime. Last week she worked 21 hours plus 4 hours overtime. What is Mariana’s:

a) straight-time pay

b) overtime pay

c) total pay