What is the impact of the Online Funds Transfer - From Savings that appears on John's statement?

The impact of the "Online Funds Transfer - From Savings" on John's statement can be understood as follows:

Step 1: Define the Problem

Identify what the "Online Funds Transfer - From Savings" means and how it affects John's financial statement.

Step 2: Break Down the Problem

1. Transaction Type: Determine the nature of the transaction.
2. Account Affected: Identify which accounts are involved.
3. Financial Impact: Assess how this transaction changes the balances.

Step 3: Apply Relevant Concepts

• Transaction Type: This is an electronic transfer of funds from John's savings account to another account.
• Account Affected: The savings account balance will decrease by the amount transferred.
• Financial Impact: The receiving account (could be checking or another external account) will increase by the same amount.

Step 4: Analysis, Verify and Summarize

• Analysis: Verify that the amount transferred matches the decrease in the savings account and the increase in the receiving account.
• Summary: This transaction reduces the savings account balance and increases the balance of the receiving account by the same amount.

Final Answer

The "Online Funds Transfer - From Savings" results in a decrease in John's savings account balance and an increase in the balance of the account receiving the funds.