4. Personal balance sheet Henry and Stephanie Sekkide have been married for over 10 years. They both have good jobs with consistent incomes, and they are good savers. They believe that their financial picture is good, but they have never prepared a balance sheet. Henry and Stephanie pulled together the following items from bank statements, pay stubs, and bills. Check the items that would appear on a balance sheet. Do not be concerned about whether the amounts are correct. Check all that apply. IRA investments $ 6,625 AAA Bank mutual fund 5,565 Auto: 2010 Suburban (cost) 28,175 Auto: 2007 Honda Pilot (cost) 24,500 Auto loan balance (last payment) 750 Bonds 10,600 City Bank-checking 36,000 City Bank-savings 45,000 O Cash 300 Cash 300 Henry's salary 45,000 Balance due on American Express credit card 1,350 Unpaid electric bill $ 350 Life Insurance (cash value) 5,300 Balance due on Master Card 650 Balance due on Visa credit card 150 Primary home 320,000 Primary home mortgage 266,667 Unpaid property taxes 2,400 Stephanie's diamond earrings 6,125 Stocks 13,250 Unpaid telephone bill 150 Amount paid last month for telephone 500 In addition, the Sekkide's provided the following information: . Based on comparable homes listed for sale in their neighborhood, the Sekkide's believe that their home value is about 8% more than what they paid for it. The principal portion of their mortgage payments is approximately $889 per month. A reliable jeweler said that Stephanie's diamond earrings could be sold at the value provided. After looking at Kelley Blue Book, they believe their cars can be sold for about 55% of original cost. Use this information to fill in the missing amounts on Henry and Stephanie's balance sheet. You can use what you checked above to make sure you accounted for everything. Note: Some amounts are given to check your work. Round your percent to the one decimal place. Balance Sheet Name: Henry and Stephanie Sekkide Date: December 31, 2017 Dollars Percent ASSETS Monetary Assets Total monetary assets Tangible Assets Total tangible assets Investment Assets Total investment assets (1) Total Assets 100.0% LIABILITIES Short-Term Liabilities Current portion of mortgage Credit card debt Property taxes Auto loan Electric bill Telephone bill Total short-term liabilities Long-Term Liabilities Long-term portion of mortgage Total long-term liabilities (2) Total Liabilities Net Worth (1)-(2) Total Liabilities and Net Worth 100.0% 4. Personal balance sheet Henry and Stephanie Sekkide have been married for over 10 years. They both have good jobs with consistent incomes, and they are good savers. They believe that their financial picture is good, but they have never prepared a balance sheet. Henry and Stephanie pulled together the following items from bank statements, pay stubs, and bills. Check the items that would appear on a balance sheet. Do not be concerned about whether the amounts are correct. Check all that apply. IRA investments $ 6,625 AAA Bank mutual fund 5,565 Auto: 2010 Suburban (cost) 28,175 Auto: 2007 Honda Pilot (cost) 24,500 Auto loan balance (last payment) 750 Bonds 10,600 City Bank-checking 36,000 City Bank-savings 45,000 O Cash 300 Cash 300 Henry's salary 45,000 Balance due on American Express credit card 1,350 Unpaid electric bill $ 350 Life Insurance (cash value) 5,300 Balance due on Master Card 650 Balance due on Visa credit card 150 Primary home 320,000 Primary home mortgage 266,667 Unpaid property taxes 2,400 Stephanie's diamond earrings 6,125 Stocks 13,250 Unpaid telephone bill 150 Amount paid last month for telephone 500 In addition, the Sekkide's provided the following information: . Based on comparable homes listed for sale in their neighborhood, the Sekkide's believe that their home value is about 8% more than what they paid for it. The principal portion of their mortgage payments is approximately $889 per month. A reliable jeweler said that Stephanie's diamond earrings could be sold at the value provided. After looking at Kelley Blue Book, they believe their cars can be sold for about 55% of original cost. Use this information to fill in the missing amounts on Henry and Stephanie's balance sheet. You can use what you checked above to make sure you accounted for everything. Note: Some amounts are given to check your work. Round your percent to the one decimal place. Balance Sheet Name: Henry and Stephanie Sekkide Date: December 31, 2017 Dollars Percent ASSETS Monetary Assets Total monetary assets Tangible Assets Total tangible assets Investment Assets Total investment assets (1) Total Assets 100.0% LIABILITIES Short-Term Liabilities Current portion of mortgage Credit card debt Property taxes Auto loan Electric bill Telephone bill Total short-term liabilities Long-Term Liabilities Long-term portion of mortgage Total long-term liabilities (2) Total Liabilities Net Worth (1)-(2) Total Liabilities and Net Worth 100.0%