on his way out to meet a friend for lunch, david realized that his financial record was not up to date. he…

on his way out to meet a friend for lunch, david realized that his financial record was not up to date. he notices that he forgot to record three transactions. the first transaction was on august 2nd in the amount of $12.32, another transaction on that same day in the amount or $52.34, and finally a transaction on august 8th in the amount of $85.35. determine davids balance carried forward for the 8th of august using the table below and the information provided.\n| date | description | transaction amount (-) | deposit amount (+) | balance |\n| ---- | ---- | ---- | ---- | ---- |\n| | | | | $1,021.16 |\n| 08/1 | deposit - paycheck | | $1,003.32 | $2,024.48 |\n| 8/5 | transfer to checking | $975.32 | | $1,049.16 |\n| 8/15 | deposit - rebate | | $50.00 | $1,099.16 |\n| 8/26 | transfer to checking | $250.32 | | $848.84 |\na. $975.32\nb. $899.15\nc. $1,049.16\nd. $848.84

on his way out to meet a friend for lunch, david realized that his financial record was not up to date. he notices that he forgot to record three transactions. the first transaction was on august 2nd in the amount of $12.32, another transaction on that same day in the amount or $52.34, and finally a transaction on august 8th in the amount of $85.35. determine davids balance carried forward for the 8th of august using the table below and the information provided.\n| date | description | transaction amount (-) | deposit amount (+) | balance |\n| ---- | ---- | ---- | ---- | ---- |\n| | | | | $1,021.16 |\n| 08/1 | deposit - paycheck | | $1,003.32 | $2,024.48 |\n| 8/5 | transfer to checking | $975.32 | | $1,049.16 |\n| 8/15 | deposit - rebate | | $50.00 | $1,099.16 |\n| 8/26 | transfer to checking | $250.32 | | $848.84 |\na. $975.32\nb. $899.15\nc. $1,049.16\nd. $848.84

Answer

Explanation:

Step1: Find starting balance

The balance on August 1st after paycheck deposit is $2,024.48.

Step2: Subtract August 2nd transactions

The total of August 2nd transactions is $12.32 + 52.34=64.66$. So the balance after these transactions is $2024.48 - 64.66 = 1959.82$.

Step3: Subtract August 8th transaction

After the August 8th transaction of $85.35$, the balance is $1959.82-85.35 = 1874.47$.

Step4: Subtract August 5th transfer

After the August 5th transfer of $975.32$, the balance is $1874.47-975.32 = 899.15$.

Answer:

b. $899.15$