Tax Unit: Module 13 Consumer Math Class East Jackson High School.
Consumer Math
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Transcript of Consumer Math
![Page 1: Consumer Math](https://reader035.fdocuments.us/reader035/viewer/2022062408/56813352550346895d9a61b5/html5/thumbnails/1.jpg)
Consumer Math
Endorsing Checks
![Page 2: Consumer Math](https://reader035.fdocuments.us/reader035/viewer/2022062408/56813352550346895d9a61b5/html5/thumbnails/2.jpg)
Depositing/Cashing Checks
• There are 5 different methods of endorsing a check– Signing the check– For deposit only– Transferring the funds– Business checks– Insurance checks
![Page 3: Consumer Math](https://reader035.fdocuments.us/reader035/viewer/2022062408/56813352550346895d9a61b5/html5/thumbnails/3.jpg)
Endorsing a Check
• Method 1: Just sign the check
![Page 4: Consumer Math](https://reader035.fdocuments.us/reader035/viewer/2022062408/56813352550346895d9a61b5/html5/thumbnails/4.jpg)
Endorsing a Check
• Method 1– Sign on one of the gray lines– Make sure the name on the front of the check
matches how you’ve signed• Ie. If I make a check out to Steph Findlay, she should
sign it Steph, not Stephanie
– Make sure the person the check is from signed it and filled it out properly
![Page 5: Consumer Math](https://reader035.fdocuments.us/reader035/viewer/2022062408/56813352550346895d9a61b5/html5/thumbnails/5.jpg)
Endorsing a Check
• Method 2: Endorse for deposit only
![Page 6: Consumer Math](https://reader035.fdocuments.us/reader035/viewer/2022062408/56813352550346895d9a61b5/html5/thumbnails/6.jpg)
Endorsing a Check
• Method 2– Endorsing for deposit only can make the check
more secure– If you give the check to someone else to bring to
the bank you don’t have to worry about them taking your money
– You can also write the bank name and account number below to ensure it goes to the right place
![Page 7: Consumer Math](https://reader035.fdocuments.us/reader035/viewer/2022062408/56813352550346895d9a61b5/html5/thumbnails/7.jpg)
Endorsing a Check
• Method 3: Endorse a Check for Transfer
![Page 8: Consumer Math](https://reader035.fdocuments.us/reader035/viewer/2022062408/56813352550346895d9a61b5/html5/thumbnails/8.jpg)
Endorsing a Check
• Method 3– Sign Your name at the top– Write pay to the order of and the person’s name
below your signature– The person you’re giving it to will sign below that– You may need to go with the person so they can
cash it, especially at more cautious banks
![Page 9: Consumer Math](https://reader035.fdocuments.us/reader035/viewer/2022062408/56813352550346895d9a61b5/html5/thumbnails/9.jpg)
Endorsing a Check
• Method 4: Endorsing a business check
![Page 10: Consumer Math](https://reader035.fdocuments.us/reader035/viewer/2022062408/56813352550346895d9a61b5/html5/thumbnails/10.jpg)
Endorsing a Check
• Method 4– Write the business name/information– Write your name/position– Write for deposit only and the account number
![Page 11: Consumer Math](https://reader035.fdocuments.us/reader035/viewer/2022062408/56813352550346895d9a61b5/html5/thumbnails/11.jpg)
Endorsing a Check
• Method 5: Insurance Checks– Insurance checks are often written out to a bank
or financial institution and whoever owns the property. This could be one person or several people.
– Everyone that’s name is on the check must endorse it.
– A agent from the financial institution must also sign and will likely also put other information regarding the institution on it as well.