Balancing Your Checkbook
A worksheet for 10th graders on balancing a checkbook, covering deposits, withdrawals, and reconciliation.
Includes
Standards
Balancing Your Checkbook
Name:
Date:
Score:
Read each question carefully and provide your answer in the space provided. Show all your work for calculations.
1. A is a record of all transactions in a checking account.
2. When you add money to your account, it is called a .
3. When you take money out of your account, it is called a .
4. The process of comparing your checkbook register with your bank statement is called .
1. On January 5th, you have a starting balance of $500. You deposit your paycheck of $1,200. On January 7th, you write a check for rent for $650. What is your new balance?
2. Explain why it is important to balance your checkbook regularly.
1. Which of the following would NOT be considered a withdrawal?
ATM cash withdrawal
Direct deposit
Debit card purchase
Writing a check
2. What is the primary purpose of a checkbook register?
To track credit card spending
To record all checking account transactions
To apply for a loan
To pay bills online
1. It is normal for your checkbook balance to always exactly match your bank statement balance.
True
False
2. Outstanding checks are checks you have written but that have not yet cleared the bank.
True
False
Your bank statement shows a balance of $850. Your checkbook register shows a balance of $775. After reviewing your transactions, you find the following:
- An outstanding check for $100.
- A deposit of $250 that has not yet been posted by the bank.
- A bank service charge of $15 that you forgot to record.
Reconcile your checkbook. What is the correct reconciled balance?
Related Worksheets
Understanding Net Worth
A Grade 10 math worksheet focusing on calculating and understanding net worth, assets, and liabilities.
Rule of 72 Worksheet
Understand and apply the Rule of 72 to estimate the doubling time of an investment or debt.
Tax and Interest Deduction Worksheet
A Grade 10 math worksheet covering concepts of tax and interest deductions in financial literacy.
Tax and Tip Calculations Worksheet
A Grade 10 math worksheet focusing on calculating sales tax, tips, and total costs for various scenarios.
Writing Checks Worksheet
A Grade 10 math worksheet focusing on the practical skill of writing checks, including understanding check components and proper completion.
Cash Flow Analysis Worksheet
A Grade 10 Math worksheet focusing on understanding and calculating cash flow, including income, expenses, and net cash flow.
Profit and Loss Worksheet
A Grade 10 Math worksheet covering profit, loss, cost price, selling price, and percentages for financial literacy.
Grade 10 Consumer Math Worksheet
This worksheet covers essential consumer math concepts for Grade 10 students, including budgeting, interest calculations, and understanding financial statements.