BANKING AFFAIRS

Detailed explanation-1: -When a check bounces, the bank returns that check to the person or business to which the check was written. A new balance, called a running balance, is calculated after each entry into the check register. Cash deposits of bills and coins are listed on the line labeled CASH on deposit slips.

Detailed explanation-2: -Running balance is the sum of present debit and credit amounts after the previous day’s balance have been deducted. Running balance is used to manage individual accounts in a business. Running balance helps in keeping the amount updated on the particular individual accounts.

Detailed explanation-3: -A ledger balance is computed by a bank at the end of each business day and includes all withdrawals and deposits to calculate the total amount of money in a bank account.

Detailed explanation-4: -Available Balance: Why Are They Different? Your current balance is the total amount of money in your account, but your available balance is the total amount of money you can spend at any given time.