Ariana and Nicholas Peterson are about to construct their income and expense statement for the year ending
Question:
Ariana and Nicholas Peterson are about to construct their income and expense statement for the year ending December 31, 2020. They have put together the following income and expense information for 2020:
Using the information provided, prepare an income and expense statement for the Petersons for the year ending December 31, 2020. Enter all expense amounts as positive values.
Transcribed Image Text:
Ariana's salary Reimbursement for travel expenses Interest on: Savings account Bonds of Delta Corporation 70 Groceries Rent | Utilities 1,950 110 Purchase of a used car (cost) Outstanding loan balance on car Purchase of bonds in Delta Corporation 4,150 9,600 Gas and auto expenses Nicholas' tuition, books, and supplies Books, magazines, and periodicals Clothing and other miscellaneous expenses 2,700 Cost of photographic equipment $47,000 960 650 purchased with charge card 2,200 Amount paid to date on photographic equipment 1,600 Ariana's travel expenses 1,950 9,750 3,300 280 7,300 4,900
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (10 reviews)
Worksheet 22 Exercise 4 Chapter 2 Names For the month or year Wages and salaries Selfemployment inco...View the full answer
Answered By
Joseph Mwaura
I have been teaching college students in various subjects for 9 years now. Besides, I have been tutoring online with several tutoring companies from 2010 to date. The 9 years of experience as a tutor has enabled me to develop multiple tutoring skills and see thousands of students excel in their education and in life after school which gives me much pleasure. I have assisted students in essay writing and in doing academic research and this has helped me be well versed with the various writing styles such as APA, MLA, Chicago/ Turabian, Harvard. I am always ready to handle work at any hour and in any way as students specify. In my tutoring journey, excellence has always been my guiding standard.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Personal Financial Planning
ISBN: 9780357438480
15th Edition
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Question Posted:
Students also viewed these Business questions
-
Ross and Cindy Adams are about to construct their income and expense statement for the year ending December 31, 2015. They have put together the following income and expense information for 2015:...
-
For the year ending December 31, 2007, Chippendale Systems Inc. reported net income of $48,320 and paid dividends of $14,400. Comparative balance sheets as of December 31, 2007 and 2006 are as...
-
For the year ending December 31, 2007, Guru Systems Inc. reported net income of $241,600 and paid dividends of $72,000. Comparative balance sheets as of December 31, 2007 and 2006, are as follows:...
-
A mathematical model for the inside of a bowl is obtained by rotating the curve x 2 + y 2 = 100 through 360 about the y-axis between y = 8 and y = 0. Each unit of x and y represents 1cm. a. Find the...
-
Waterfun Technology produces engines for recreational boats. Because of competitive pressures, the company was making an effort to reduce costs. As part of this effort, management implemented an...
-
Choose one of the following topics and debate it in class. - What Australia needs is fewer university students and more vocational education and training students. - The value of a university...
-
15-9. Explain the differences between a push strategy and a pull strategy.
-
BONDS ISSUED AT FACE VALUE WITH SINKING FUND Creswell Entertainment issued the following bonds: Date of issue and sale: ........April 1, 20-1 Principal amount: ..........$600,000 Sale price of bonds:...
-
Apple INC CONCLUSIONS: Identify three specific accounts you would specifically want to spend your audit time on due to higher Risk of Material Misstatement (RMM). For the three years 2015, 2016,...
-
Henderson Floor Coverings reported the following summarized data at December 31, 2016. Accounts appear in no particular order, and all have normal balances. Service Revenue ...... $ 38,000 Equipment...
-
Jocelyn Dixon needs to borrow $4,000. First State Bank will lend her the money for 12 months through a single payment loan at 8 percent, discount; Home Savings and Loan will make her a $4,000, single...
-
Assume that an investor short-sells 500 shares of stock at a price of $65 a share, making a 50% margin deposit. A year later, she repurchases the borrowed shares at $45 a share. a. How much of her...
-
For each of the following unrelated columns of data for the year, compute the cost of goods manufactured and the cost of goods sold: A B C Selling expenses Factory insurance. Ending finished goods...
-
Use your own academic report, issued by your institute, as an example. Ask a database administrator how they use normalization steps to transform the details of the report into a set of relations in...
-
Francis Corp. has two divisions, Eastern and Western. The following information for the past year is for each division: Francis has established a hurdle rate of 9 percent. Required: 1. Compute each...
-
The enzyme lipase catalyzes the hydrolysis of esters of fatty acids. The hydrolysis of p-nitrophenyloctanoate was followed by measuring the appearance of p-nitrophenol in the reaction mixture: The...
-
Use values of r cov (Table 17.1) to estimate the XY bond lengths of ClF, BrF, BrCl, ICl and IBr. Compare the answers with values in Fig. 17.8 and Table 17.3, and comment on the validity of the method...
-
From a square whose side has length \(x\), measured in meters, create a new square whose side is \(10 \mathrm{~m}\) longer. Find an expression for the sum of the areas of the two squares as a...
-
The functions f and g in the figure are obtained by vertical and horizontal shifts and scalings of y = |x|. Find formulas for f and g. Verify your answers with a graphing utility. y = f(x) 5. 4 -3-...
-
Solve for the equilibria of the following discrete-time dynamical systems Pr pt+1 = Pr+2.0(I-Pr)
-
Discuss the pros and cons of long-term-care insurance. Does it make sense for anyone in your family right now? Why or why not? What factors might change this assessment in the future?
-
Use Worksheet 9.2. Bruce Kaplan, a 35-year-old computer programmer, earns $72,000 a year. His monthly take-home pay is $3,750. His wife, Barbara, works part-time at their childrens elementary school...
-
Use Worksheet 9.2. Do you need disability income insurance? Calculate your need using Worksheet 9.2. Discuss how youd go about purchasing this coverage.
-
Sociology
-
I am unsure how to answer question e as there are two variable changes. In each of the following, you are given two options with selected parameters. In each case, assume the risk-free rate is 6% and...
-
On January 1, Interworks paid a contractor to construct a new cell tower at a cost of $850,000. The tower had an estimated useful life of ten years and a salvage value of $100,000. Interworks...
Study smarter with the SolutionInn App