Use the following items to determine the total assets, total liabilities, net worth, total cash inflows, and
Question:
Use the following items to determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows.
a. Total assets $
b. Total liabilities $
c. Net worth $
d. Total cash inflows $
e. Total cash outflows $
Transcribed Image Text:
Rent for the month, $650 Spending for food, $345 Savings account balance, $1,890 Current value of automobile, $8,800 Credit card balance, $235 Auto insurance, $230 Video equipment, $2,350 Lunches/parking at work, $180 Personal computer, $1,200 Clothing purchase, $110 Monthly take-home salary, $2,185 Cash in checking account, $450 Balance of educational loan, $2,160 Telephone bill paid for month, $65 Loan payment, $80 Household possessions, $3,400 Payment for electricity, $90 Donations, $160 Value of stock investment, $860 Restaurant spending, $130
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (8 reviews)
a Total assets 18950 450 1890 8800 2350 1200 ...View the full answer
Answered By
Vincent Omondi
I am an extremely self-motivated person who firmly believes in his abilities. With high sensitivity to task and operating parameters, deadlines and keen on instructions, I deliver the best quality work for my clients. I handle tasks ranging from assignments to projects.
4.90+
109+ Reviews
314+ Question Solved
Related Book For
Focus On Personal Finance
ISBN: 9781265521974
7th Edition
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
Question Posted:
Students also viewed these Business questions
-
Use the following items to prepare a balance sheet and a cash flow statement. Determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows. S1,950 $1,890...
-
To what extent do you consider the following items to be proper costs of the fixed asset? Give reasons for your opinions. (a) Overhead of a business that builds its own equipment. (b) Cash discounts...
-
Revise each of the following items to eliminate empty phrases. A. Needless to say, General Mills is by all accounts among the worst offenders of marketing less healthy cereals to children. B. In my...
-
17. [1.1/2 Points] DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER Write the composite function in the form f(g(x)). [Identify the inner function u-g(x) and the outer function y=f(u).) (Use...
-
The percentages of Americans who have been diagnosed with diabetes are shown in Table 39 for various age groups. Let y be the percentage of Americans at age x years who have been diagnosed with...
-
Using the spreadsheet information below, a. Determine how much a passive investor would have on December 31, 2011 if she invested $10,000 on January 1, 2002 in the passive portfolio b. Determine how...
-
47. LaMont works for a company in downtown Chicago. The company encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $270 per...
-
A heavy construction firm has been awarded a contract to build a large concrete dam. It is expected that a total of 8 years will be required to complete the work. The firm will buy $600,000 worth of...
-
Beta describes the systematic risk. Explain the implications of a high beta value RSK 4 8 0 5
-
Matt and Crystal are married with a young family of 4 school-age children. Matt is a cargo truck driver for an airline and he has a group benefits plan which offers dental and extended health care...
-
Based on the following financial data, calculate the ratios requested. a. Debt ratio b. Current ratio c. Debt-payments ratio d. Savings ratio Liabilities, $7,800 Liquid assets, $4,600 Monthly credit...
-
Using a financial calculator, Excel, or the time value of money tables in the Chapter 1 Appendix, calculate the following: a. The future value of $550 six years from now at 7 percent. b. The future...
-
Which of the following points is not a point of discontinuity of ????(x) = x - 1? (A) x = - 1 (B) x = -1/2 (C) x = 0 (D) x = 1/2 (E) x = 1
-
Suppose that your credit card activity for December looked like this: Date Activity December 5 $384 purchase December 11 $347 purchase December 16 $174 purchase December 21 $480 purchase December 25...
-
A research group surveyed 300 students. The students were asked how often they go to the movies and whether they prefer comedies or dramas. Their responses are summarized in the following table....
-
C. Prove the following (you can use any formal induction/other theoretical method, "A" means power here): i. ii. iii. What is the time complexity recurrence relation for Fibonacci numbers? Explain it...
-
You and your partner run a small business together, with separate work roles. You are responsible for the business budget and have researched an improved budget process which you felt needs to be...
-
The actual selling expenses incurred in March 2022 by Carla Vista Company are as follows: Variable Expenses Fixed Expenses Sales commissions Advertising $14,576 Sales salaries $34,700 12.174...
-
You, CPA, are employed at Beaulieu & Beauregard, Chartered Professional Accountants. On November 20, Year 3, Dominic Jones, a partner in your firm, sends you the following email: Our firm has been...
-
Select the correct answer for each of the following questions. 1. On December 31, 20X3, Saxe Corporation was merged into Poe Corporation. In the business combination, Poe issued 200,000 shares of its...
-
What does time value of money measure?
-
Pete Morton is planning to go to graduate school in a program of study that will take three years. Pete wants to have $8,000 available each year for various school and living expenses. If he earns 4...
-
Carla Lopez deposits $3,000 a year into her retirement account. If these funds have an average earning of 8 percent over the 40 years until her retirement, what will be the value of her retirement...
-
Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total...
-
Mrquered Mrquered
-
You plan to invest $10,00 today in an investment account earning 5% interest. You then plan to invest an additional $1,000 into this account each year for the next twenty years. How much money will...
Study smarter with the SolutionInn App