Checkbook Project Intro and Setup. YOUR'E HIRED!!!!!!!! CONGRATULATIONS!!! You've been accepted for the position of an 8th Grade Math Student. Now that.

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Presentation transcript:

Checkbook Project Intro and Setup

YOUR'E HIRED!!!!!!!! CONGRATULATIONS!!! You've been accepted for the position of an 8th Grade Math Student. Now that your new job has been secured, lets go over some of the benefits and responsibilities that come with your exciting new career!

Benefits Great Pay! -You will be receiving a starting base salary of $100 per day, with opportunities throughout the year to earn more $$ in the form of bonuses, commissions, and extra jobs. Paid Vacations!-Get paid even while you're on vacation. Your pay will accumulate while you are on Official School Holidays like Thanksgiving, Christmas, and Spring Break....Just don't forget to keep track of your pay! Paid Sick Leave!-Turn in all your makeup work on time and you still get paid, even when out sick!

Job Responsibilities Materials - Come to class prepared everyday, this includes materials (no locker trips), homework, and any other work your new boss (ME!) decides to assign. Failure to do so will result in a fine. Record Keeping- It is YOUR responsibility to keep accurate records of income(credits) and expenses(debits). Failure to do so will result in a stiff penalty from the MCRS (Math Class Revenue Service) during Audits(registry checks) Paying Bills- Throughout the year you will accumulate bills for things like rent, utilities, transportation, taxes, food, etc. Budgeting for and paying these bills on time will help you establish a good credit grade and will help you get loans, promotions, and raises.

How to keep a registry Credit = Any addition to your account, like a deposit. These are positive numbers and are entered in black pen/pencil Debit = Any subtraction from your account like a withdrawal or a check. These are negative numbers and are entered in red pen/pencil.

Other Things to Remember Always date your entries!!! Make sure to write a good description, this will be useful if you ever get audited. Remember to match your registry number entry to your check number, again this is important to keep track of so that your books will balance.

Registry Practice Follow along in your registry as we practice how to enter some daily transactions and practice writing your first check.

Entry #1 Signing Bonus! Pay Yourself $500.00

Entry #2 Shopping Spree You Spent $373 on new clothes and supplies for your new job (debit)

Entry #3 Back Pay Pay Yourself $100 per School Day for the Previous 2 days of this week (one credit)

Entry #4 Checks Printing charges for your new checks cost $50 per year (debit)

Entry #5 Registry Printing charges for your new registry cost $77 per year (debit)

Entry #6 Back to School Bonus Your Awesome Generous Grandparents gave you $50 as a back to school present

Entry #7 Ticket! You got caught jaywalking this weekend and the ticket just came in the mail!! Fine = $88.50 ***better stay in those crosswalks*** ***next time***

Entry #7 Test Bonus/Fine A = $ B = $ C = $38.50 D = -$11.50 F = -$61.50

WHERE ARE YOU NOW?? Your Registry Should Read (based on Test Bonus/Fine) A = $ B = $ C = $ D = $ F = $100.00

Extra Money *To earn back any money not earned from test bonuses, you may do test corrections (due Friday 9/14) that will pay you $10.00 per question correction. *To earn credit for missed vocabulary questions you must write the vocabulary word and definition 5 times. NO WORK SHOWN = NO BONUS $$