2. (2 points) Chuck and Judy Schwartz are about to construct their income and expense statement...

Transcribed Image Text:

2. (2 points) Chuck and Judy Schwartz are about to construct their income and expense statement for the year ending December 31, 2004. They have put together the following income and expense information for 2004: Judy's salary Reimbursement for travel expenses Interest on: $37,000 1,950 Savings account 110 Bonds of Alpha Corporation 70 Groceries 4,150 Rent 9,600 Utilities 960 Gas and auto expenses 650 Chuck's tuition, books, and supplies 3,300 Books, magazines, periodicals 280 Clothing and other miscellaneous expenses 2,700 Cost of photographic equipment 2,200 Amount paid to date on photographic equipment 1,600 Judy's travel expenses Purchase of a used car(cost) Outstanding loan balance on car Purchase of bonds in Alpha Corporation 1,950 9,750 7,300 4,900 Using the information provided, prepare income and expense statement for the Schwartzes for the year ending December 21, 2004. 2. (2 points) Chuck and Judy Schwartz are about to construct their income and expense statement for the year ending December 31, 2004. They have put together the following income and expense information for 2004: Judy's salary Reimbursement for travel expenses Interest on: $37,000 1,950 Savings account 110 Bonds of Alpha Corporation 70 Groceries 4,150 Rent 9,600 Utilities 960 Gas and auto expenses 650 Chuck's tuition, books, and supplies 3,300 Books, magazines, periodicals 280 Clothing and other miscellaneous expenses 2,700 Cost of photographic equipment 2,200 Amount paid to date on photographic equipment 1,600 Judy's travel expenses Purchase of a used car(cost) Outstanding loan balance on car Purchase of bonds in Alpha Corporation 1,950 9,750 7,300 4,900 Using the information provided, prepare income and expense statement for the Schwartzes for the year ending December 21, 2004.