1. Can you write me a check?
Math 2
Checking Account

2. Checking Accounts
Checking account-an account where the holder can write checks; draw less interest
Withdrawal- amount of money taken out of an account.
Overdraft-a check is written for more money than is currently in the account. If the bank refuses to cask the check, it’s said to have bounced.
Check-a bill of exchange, or a document guaranteeing a certain amount of money, where the drawee is a bank.
Check Register- is the journal used to record all of the checks, cash payments, and outlays of cash during an accounting period.
Payee-The person receiving the payment.

3. Why do people have checking accounts?
A checking account can help you manage your money and keep it safe.
You don’t have to carry large amounts of cash around.
Most businesses accept checks if you have a state ID or driver’s license.
You can usually acquire a debit card, which can be used like a credit card for buying things online or making online payments, paying at the pump for gas, etc.
Canceled checks are proof that you paid a bill.
Money in your bank account is safe from fire, loss, or theft.
Checking accounts at most banks are insured by the federal government (FDIC) up to specified dollar amounts.

4. Examples of when/how someone would use a checking account:
Pay bills
Keep money safe
When traveling
Buying
Organization
To keep a record of money spent
As a table group, come up with 4 more examples.

5. Savings Account
Saving account- an account that accrues interest in exchange for use of the money deposited.
Deposit- a sum of money placed or kept in a bank account, usually to gain interest.
ATM- (automated teller machine) electronic banking outlet, which allows customers to complete basic transactions

6. Parts of a Check
Date-Enter the date on which you are writing the check.
Payee-Enter the name of the person or the company you are going to give the check to.
Amount of check in numerals-Enter the amount of the check, in numbers. Don’t leave any space between the pre-printed dollar symbol ($) and the numbers indicating the amount of the check; there should be no room for someone to add in extra numbers.

7. Parts of a check
4. Amount of check in words Enter the amount of the check in words. Start writing at the far left side of the line. Follow the dollar amount by the word “and,” then write the amount of cents over the number 100. Draw a line from the end of the 100 to the end of the line.
5. Memo-Use this space to note why you wrote the check. If you are paying a bill, this is a good place to put information requested by the company.
6. Signature-Sign your check exactly the way you signed your name on the signature card you filled out when you opened your account.

8. Check Register Term Explanation Check Number
 The number of the check you wrote, located at the top corner of the check.
Date
 The date the check was written.
Transaction Description
 The memo section of the check-why you wrote the check
Payment/Debit
 the amount of money you payed
Deposit/Credit
 the amount of money you deposited
Balance
 your new balance after the deposit/withdrawal.

9. Scenario
You are about to sit down to write checks and make deposit for the upcoming week.
You were paid this morning, wahoo!
The paycheck for your part time job was for $

10. Directions
You will write out the checks and deposits slips. Be sure to record them in your check register.
You will balance your checkbook at the end of this activity.

11. Check #100
Today, (Jan. 5), you owe your Eagle’s View Apartment $ for rent.

12. Check #101
You owe your Principal $10.00 for the spirit group t-shirt you bought. Must be paid by Jan. 7, 2017.

13. Check #102
You owe Beyonce Knowles $1.98 for the new song you bought off her website which you bought on Jan. 6, 2017.

14. Check #103
Yesterday (Jan. 4), you are a good person and decide to donate $ to Habitat for Humanity to help them build more houses in New Orleans.

15. Check #104
You decide to buy your favorite teacher (Mrs. Newberry) a Christmas gift. On Christmas Eve, you spend $22.63 at Starbucks on a nice gift card.

16. Surprise Deposit!
Your mom is so proud of you for getting good grades so far this school year. She gives you $10.00 for every A you currently have. Find out how many As you have and make a deposit for the correct amount in your checking account to spend on anything you want!

17. Check #105
You and your friends have decided to stay after school on Tuesday to study for your science test coming up. Your classmate, Justin Beiber, needs $5.60 to cover the cost of the pizza and pop he is going to bring.

18. Deposit #2
Your mom sent you $50 for your birthday.

19. Check #106
You forgot to sell your Entertainment Book to your friend this weekend and the money is due on Monday. You owe the High School $39.52 so that you can go to prom and graduate, must be paid oj June 1.

20. Check #107
You owe TXU $96.32 for the electricity. Must be paid by Friday.

21. Check #108
Wednesday, you bought groceries at Albertson for $

22. Last Step Balance your check book. Did you overspend?
Write your name on all sheets and put them in the tray when you are done.
Don’t forget to answer the question: Did you overspend?