Set flag to database column - sql

Question

The task is creating sql script which set flag "Y" or "N" to existed dummy database line "Status" if integer value more or less '10'
database consists of three columns
person
money (5 or 100)
status (dummy - should be updated via stored procedure)
Solution is
update status set flag = "Y" where money = '5' and
status set flag = "N" where money = '100'
Novice in SQL scripting

Answer 1

UPDATE
people
SET
status = CASE WHEN money = '5' THEN 'Y'
WHEN money = '100' THEN 'N'
ELSE status
END
WHERE
money IN ('5', '100')
Working backwards through that query...
The WHERE clause ensures that only the rows you want to update are updated.
The CASE statement then chooses which value to set status to based on the existing value in money.
The ELSE block should never happen, but is there as a fail-safe (in-case you forget to include the WHERE clause when you run it, the value of status gets set to the current value in status for any rows where money is neither '5' or '100').
EDIT :
Notes:
people should be the name of the table
status should be the name of the field
Final Edit (I give up now) :
UPDATE
people
SET
status = CASE WHEN money > 10 THEN 'Y' ELSE 'N' END
;
This will update every row in people.
It will set status to 'Y' if money > 10, for all other records it will set status to 'N'.

Answer 2

How about using a CASE
Evaluates a list of conditions and returns one of multiple possible
result expressions.
The CASE expression has two formats:
• The simple CASE expression
compares an expression to a set of simple expressions to determine the
result.
• The searched CASE expression evaluates a set of Boolean expressions
to determine the result.
update [status]
set [flag] =
CASE
WHEN [money] = '5' THEN 'Y'
WHEN [money] = '100' THEN 'N'
END
WHERE [money] in ('5','100')