3 4 Homework activity 2.1 This is a portion of Donald's bank statement: H Securebank * Mr D. Triumph 22 Jacaranda Ridge Sunnyside 2305 Statement No 55 Vat Reg No. 147-233 Page 1 of 3 Date 22-02-2013 22-02-2013 22-02-2013 24-02-2013 Pretty & Prim 25-02-2013 Cell & All 25-02-2013 Ready Card 25-02-2013 26-02-2013 Paytoday Supermarket 28-02-2013 Bank Charges 28-02-2013 ATM 22999911771 01-03-2013 SatV 02-03-2013 Computaconnect 02-03-2013 ATM 9171727374888 03-03-2013 Fairfoods 04-03-2013 04-03-2013 Municipality Services Description Carried fwd Salary Metermaid Inc. ATM 2309188888 ATM 647372888-22 Electricity Coupon Services Newtown Central Branch PO Box 23441 Newtown 2101 Customer Care Centre: 0861 282 3141 23 April 2013 Debit R1 500,00 R300,00 R365,00 R400,00 R1 000,00 R874,39 R253,70 R800,00 R579,50 R326,50 R500,00 R253,95 R500,00 R300,00 Credit R9 082,64 Balance -R2 731,45 R6 351,19 R4 851,19 R4 551,19 R4 186,19 R3 786,19 R2 786,19 R1 911,80 R1 658,10 R858,10 R278,60 -R47,90 -R547,90 -R801,85 -R1 301,85 -R1 601,85 An overdraft facility allows one to continue to withdraw money when there is a zero balance on the account. This means that the person is actually borrowing from the bank. Banks charge interest on any funds drawn in this way. a) How much did Donald earn as a salary? b) Explain why Donald's balance was only R6 351,19 after his salary was added to his account. c) How much cash did Donald withdraw between 22 February and 2 March? Include any transactions on 2 March. d) Comment on Donald's financial situation by 4 March. Explain whether he is in a good or bad financial position, and why.​