Short Answer 
The process of calculating a bank balance involves understanding debits (money withdrawn) and credits (money added). For Omar, starting with an initial balance of $219.80 and a paycheck of $1015.50 results in a total of $1253.30 before debits, and after subtracting debits of $474.05, his final balance is $761.25.
Step 1: Understanding Debit and Credit
In banking transactions, it is crucial to comprehend the terms debit and credit. The debit amount refers to the money that is withdrawn or paid out from an account, reducing the balance. In contrast, the credit amount signifies the money that is added to an account, increasing the balance. This distinction is fundamental in calculating the total bank balance.
Step 2: Calculating Initial Balance
To find the total amount in an account before considering any withdrawals, start by recognizing the initial balance and all credit transactions. For Omar, his initial balance is $219.80 and he receives a paycheck of $1015.50. To find the initial balance with the paycheck, add these amounts together:
- Initial Balance: $219.80
- Paycheck: $1015.50
- Total Before Debits: $1253.30
Step 3: Final Balance Calculation
Next, subtract the total debit amounts from the total balance found in the previous step to ascertain the remaining balance. For Omar, the total debited amounts, which includes expenses such as rent and meals, sum up to $474.05. Therefore, the final balance can be calculated as follows:
- Total After Adding Paycheck: $1253.30
- Total Debits: $474.05
- Remaining Balance: $761.25