calculation the below ratios of personal budget. Net Income? Ratios ? Debt ratio ? Current ratio? Liquidity
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
2023 2024 BUDGET Total ACTUAL Revenue TOTAL Jan Feb Mar Employment Income 3000 2500 2500 2500 Apr 2500 May 2500 Jun 2500 Jul 2500 Aug Sep Oct Nov Dec 2500 2500 2500 2500 2500 30000 Student Assistance N/A Other (specify) N/A Child support/spousal support N/A TOTAL REVENUE 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 Expenses Clothing 150 20 20 20 20 20 20 20 20 20 20 20 20 240 Communications Internet 150 150 150 150 150 150 150 150 150 150 150 150 150 1800 Phone 480 40 40 40 40 40 40 40 40 40 40 40 40 480 Technology, computer, TV etc. N/A Dining out 500 30 30 100 30 30 30 30 30 30 30 30 150 550 Donations N/A Education Tuition & expenses 5500 5500 Books 250 250 Supplies 100 20 1100 100 20 1000 100 20 7600 450 60 Childcare N/A Entertainment N/A Groceries 4800 350 350 350 350 350 350 350 350 350 350 350 350 4200 Healthcare Therapy not covered N/A Dental N/A Frecriptions N/A Insurance 960 80 80 80 80 80 80 80 80 80 80 80 80 960 Mortgage N/A Recreation N/A Rent 6000 500 500 500 500 500 500 500 500 500 500 500 500 6000 Transportation 900 75 75 75 75 75 75 75 75 75 75 75 75 900 Utilities 1200 100 100 100 100 100 100 100 100 100 100 100 100 1200 Vehicle Expenses (gas, service, maintenance) N/A Car Payments N/A Incidentals N/A Hygiene 200 30 10 10 10 30 10 10 30 10 10 30 10 200 Holiday or Trip (accommodation, travel, meals, incidentals) N/A Gifts/ Xmas/Birthday 700 150 150 150 150 600 Loans N/A Child or spousal support N/A Emergency Funds/monthly savings 900 100 100 100 100 100 100 100 100 100 100 100 100 1200 Other 22790 7245 1455 1525 2675 1475 1455 1455 1625 2725 1605 1475 1725 26440 TOTAL EXPENSES 2023 2024 BUDGET Total ACTUAL Revenue TOTAL Jan Feb Mar Employment Income 3000 2500 2500 2500 Apr 2500 May 2500 Jun 2500 Jul 2500 Aug Sep Oct Nov Dec 2500 2500 2500 2500 2500 30000 Student Assistance N/A Other (specify) N/A Child support/spousal support N/A TOTAL REVENUE 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 Expenses Clothing 150 20 20 20 20 20 20 20 20 20 20 20 20 240 Communications Internet 150 150 150 150 150 150 150 150 150 150 150 150 150 1800 Phone 480 40 40 40 40 40 40 40 40 40 40 40 40 480 Technology, computer, TV etc. N/A Dining out 500 30 30 100 30 30 30 30 30 30 30 30 150 550 Donations N/A Education Tuition & expenses 5500 5500 Books 250 250 Supplies 100 20 1100 100 20 1000 100 20 7600 450 60 Childcare N/A Entertainment N/A Groceries 4800 350 350 350 350 350 350 350 350 350 350 350 350 4200 Healthcare Therapy not covered N/A Dental N/A Frecriptions N/A Insurance 960 80 80 80 80 80 80 80 80 80 80 80 80 960 Mortgage N/A Recreation N/A Rent 6000 500 500 500 500 500 500 500 500 500 500 500 500 6000 Transportation 900 75 75 75 75 75 75 75 75 75 75 75 75 900 Utilities 1200 100 100 100 100 100 100 100 100 100 100 100 100 1200 Vehicle Expenses (gas, service, maintenance) N/A Car Payments N/A Incidentals N/A Hygiene 200 30 10 10 10 30 10 10 30 10 10 30 10 200 Holiday or Trip (accommodation, travel, meals, incidentals) N/A Gifts/ Xmas/Birthday 700 150 150 150 150 600 Loans N/A Child or spousal support N/A Emergency Funds/monthly savings 900 100 100 100 100 100 100 100 100 100 100 100 100 1200 Other 22790 7245 1455 1525 2675 1475 1455 1455 1625 2725 1605 1475 1725 26440 TOTAL EXPENSES
Expert Answer:
Answer rating: 100% (QA)
To calculate these ratios for personal budgeting you need certain financial information Heres how yo... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these finance questions
-
Rachel Janet is preparing the 2024 budget for one of BestKayak's roto-moulded kayaks. Extensive meetings with members of the sales department and executive team have resulted in the following unit...
-
Using visitor numbers over a period of years for a selection of attractions: (a) produce a life-cycle graph for the selected attraction, (b) suggest which stage each attraction is going through in...
-
An LNC can detect alterations in the record by Select one: a. Examining notes written in the margin b. Looking through late entries for detailed explanations c. Finding a doctor's explanation that is...
-
How may long-term digestive system problems promote the chances of developing osteoporosis?
-
The income statement and selected balance sheet information for Hamburger Heaven for the year ended December 31, 2013, are presented below. Refer to the information in CP12-2. Required: Prepare the...
-
Gibsons Nursery has the following information as of December 31,2010: Requirements 1. Compute the rate of inventory turnover for Gibsons Nursery for the year ended December 31,2010. Round the result...
-
Sam, Richard, and Tom are partners. They share income and losses in the ratio of 3:2:1. Toms Capital account has a $240,000 balance. Sam and Richard have agreed to let Tom take $320,000 of the...
-
Paddy's Pub reported the following year-end data: Income before interest expense and income tax expense Cost of goods sold $ 42,000 23,000 Interest expense Total assets Total liabilities Paddy's Pub...
-
The management of Hartman Company is trying to determine the amount of each of two products to produce over the coming planning period. The following information concerns labor availability, labor...
-
tudents who were majoring in either math or English were asked a test question, and the researcher recorded whether they answered the question correctly. The sample results are given below. At the...
-
In a diploid species, complete nondisjunction during meiosis I may produce a viable cell that is a. trisomic. b. haploid. c. diploid. d. triploid.
-
Staining eukaryotic chromosomes is useful because it makes it possible to a. distinguish chromosomes that are similar in size and centromeric locations. b. identify changes in chromosome structure....
-
A mechanism that can produce a translocation is a. the joining of reactive ends when two different chromosomes break. b. crossing over between nonhomologous chromosomes. c. crossing over between...
-
A site in a chromosome where DNA replication begins is a. a promoter. b. an origin of replication. c. an operator. d. a replication fork.
-
A form of genetic transfer that involves the uptake of a fragment of DNA from the environment is called a. conjugation. b. transduction. c. transformation. d. all of the above.
-
Prior to 35 weeks' gestation, uie L/S ratio is usually: a. Less than 1.6 b. Less than 1 c. More than 2 d. Less than 2
-
Explain the term global capital markets. This chapter primarily discusses global equity markets. What other types of financial instruments are traded in these markets? How important are global...
-
Kathy Kennedy (age 44) is a single taxpayer and she lives at 212 North Pine Way, Payson, AZ 85541. Her Social Security number is 467-98-9784. Kathy's earnings and income tax withholding as the...
-
Sherry rents her vacation home for 6 months and lives in it for 6 months during the year. Her gross rental income during the year is $4,000. Total real estate taxes for the home are $950, and...
-
Walter, a single taxpayer, purchased a limited partnership interest in a tax shelter in 1985. He also acquired a rental house in 2012, which he actively manages. During 2012, Walter's share of the...
-
The root mean square value of a signal \(x(t), x_{\mathrm{rms}}\), is defined as \[x_{\mathrm{rms}}=\left\{\lim _{T ightarrow \infty} \frac{1}{T} \int_{0}^{T} x^{2}(t) d t ight\}^{1 / 2}\] Using this...
-
What are the various methods available for vibration control?
-
Fill in the Blank. The presence of unbalanced mass in a rotating disc causes ____________ .
Study smarter with the SolutionInn App