Attempts Average / 2 4. Personal balance sheet Dan and Selena Newly 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. Dan and Selena 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. TRA Investments $ 6,875 AAA Bank mutual fund 5,775 Auto: 2010 Suburban (cost) 26,450 Auto: 2007 Honda Pilot (cost) 23,000 Auto loan balance last payment) 1,031 Bonds 11,000 City Bank-checking 36.000 Cty Bank-savings 45,000 Cash 300 Dan's salary 45,000 Balance due on American Express credit card 1,856 Unpaid electrica 481 Q Search @ Life Insurance (cash value) 5,500 Balance due on Master Card 894 Balance due on Visa credit card 206 Primary home 290,000 Primary home mortgage 241,667 Unpaid property taxes 2,175 Selena's diamond earrings 5,750 Stocks 13,750 Unpaid telephone bill 206 Amount paid last month for telephone 500 edition, the Newly's provided the following information: Based on comparable homes listed for sale in their neighborhood, the Newly'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 $806 per month A reliable jeweler sald that Selena'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 Dan and Selena'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: Dan and Selena Newly Date: December 31, 2017 Dollars Percent 0.4% % 300 45,000 36,000 81,300 % % ASSETS Monetary Assets Cash on hand Savings account Checking account Total monetary assets Tangible Assets Home Automobiles Personal property Total tangible assets Investment Assets Mutual funds Stocks Bonds Life insurance cash value 313.200 % 15.3% tren 27,197 5,750 322,947 96 9 % 5.775 13.750 11,000 5,500 A AZKI % TRA o Search Investment Assets Mutual funds % Stocks % 5.775 13,750 11,000 5,500 6,875 % % % Bonds Life insurance cash value IRAS Total investment assets (1) Total Assets LIABILITIES Short-Term Liabilities $ % 100.0% Current portion of mortgage % Credit card debt % Property taxes 9,672 1,856 2,175 1,031 % Auto loan % Electric bill 481 % Telephone bill 206 % 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% Attempts Average / 2 4. Personal balance sheet Dan and Selena Newly 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. Dan and Selena 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. TRA Investments $ 6,875 AAA Bank mutual fund 5,775 Auto: 2010 Suburban (cost) 26,450 Auto: 2007 Honda Pilot (cost) 23,000 Auto loan balance last payment) 1,031 Bonds 11,000 City Bank-checking 36.000 Cty Bank-savings 45,000 Cash 300 Dan's salary 45,000 Balance due on American Express credit card 1,856 Unpaid electrica 481 Q Search @ Life Insurance (cash value) 5,500 Balance due on Master Card 894 Balance due on Visa credit card 206 Primary home 290,000 Primary home mortgage 241,667 Unpaid property taxes 2,175 Selena's diamond earrings 5,750 Stocks 13,750 Unpaid telephone bill 206 Amount paid last month for telephone 500 edition, the Newly's provided the following information: Based on comparable homes listed for sale in their neighborhood, the Newly'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 $806 per month A reliable jeweler sald that Selena'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 Dan and Selena'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: Dan and Selena Newly Date: December 31, 2017 Dollars Percent 0.4% % 300 45,000 36,000 81,300 % % ASSETS Monetary Assets Cash on hand Savings account Checking account Total monetary assets Tangible Assets Home Automobiles Personal property Total tangible assets Investment Assets Mutual funds Stocks Bonds Life insurance cash value 313.200 % 15.3% tren 27,197 5,750 322,947 96 9 % 5.775 13.750 11,000 5,500 A AZKI % TRA o Search Investment Assets Mutual funds % Stocks % 5.775 13,750 11,000 5,500 6,875 % % % Bonds Life insurance cash value IRAS Total investment assets (1) Total Assets LIABILITIES Short-Term Liabilities $ % 100.0% Current portion of mortgage % Credit card debt % Property taxes 9,672 1,856 2,175 1,031 % Auto loan % Electric bill 481 % Telephone bill 206 % 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%