Question
1. Using the following items, prepare a balance sheet in good order (showing each category and correctly labeled) for Frank Ferguson. After you have prepared
1. Using the following items, prepare a balance sheet in good order (showing each category and correctly labeled) for Frank Ferguson. After you have prepared Franks balance sheet, calculate Frank's solvency ratio
Stocks $10,000
House $125,000
Utilities $3,800
Retirement fund $62,000
Checking account $1,800
Savings account $4,900
2016 Ford $22,000
Cash $350
Mortgage loan $103,000
Auto loan $17,000
Credit card $13,200
Insurance premium $2,700
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Personal Finance
Authors: Jane King, Mary Carey
2nd Edition
0198748779, 9780198748779
