CE ASSIGNMENT CH 2 CLASS 1.docx Help BU - A. EE Normal CHAPTER 2 ASSIGNMENT Your client is having trouble figuring out where all her money goes each month. Here is her financial information for you to review. $825 $450 MONTHLY VISA BILL $355" STOCKS IN BROKERAGE ACCT $5,500 MASTER CARD BILL $2459 MONTHLY PAYCHECK (GROSS) $3,000 PAYROLL TAX WITHHELD $ 600 MONTHLY MORTGAGE PAYMENT $530 MUTUAL FUNDS $2.100 401(K) RETIREMENT ACCT $4,500 CHECKING ACCOUNT BALANCE QUARTERLY AUTO INSURANCE (NOT YET DUE) ANTIQUE COIN COLLECTION CONDOMINIUM MONTHLY GROCERIES $3,250 $65.000 $225 AUTOMOBILE $9,000 FURNITURE $5,500 MORTGAGE BALANCE $50,000 $4,225 AUTO LOAN BALANCE $265 MONTHLY CAR PAYMENT $8,000 $275 MONTHLY UTILITY BILL OTHER PERSONAL PROPERTY $150 OTHER MONTHLY CASH EXPENSES SAVINGS ACCT BALANCE $2,300 MONTHLY CLOTHING EXPENSES $45 $264 ANNUAL MEDICAL EXPENSES *Bills represent the average of the prior month's charges AND ALSO current month's expenses ASSIGNMENT CH 2 CLASS 1.docx Help Normal B / U A A- EE Questions: 1) What are the Monetary Assets listed above? 2) What are the investment Assets listed above? 3) What are the Retirement Assets listed above? 4) How much are the Total Assets? 5) What are the Current (short term) Debts listed above? 6) What are the total debts? 7) What is your client's net worth? 8) What is the Current Ratio? 9) What is the Debt Ratio? HINT: Since they are average amounts you may assume that the credit card and utility bills are both a debt related to the prior month) and an expense (related to the current month). CE ASSIGNMENT CH 2 CLASS 1.docx Help BU - A. EE Normal CHAPTER 2 ASSIGNMENT Your client is having trouble figuring out where all her money goes each month. Here is her financial information for you to review. $825 $450 MONTHLY VISA BILL $355" STOCKS IN BROKERAGE ACCT $5,500 MASTER CARD BILL $2459 MONTHLY PAYCHECK (GROSS) $3,000 PAYROLL TAX WITHHELD $ 600 MONTHLY MORTGAGE PAYMENT $530 MUTUAL FUNDS $2.100 401(K) RETIREMENT ACCT $4,500 CHECKING ACCOUNT BALANCE QUARTERLY AUTO INSURANCE (NOT YET DUE) ANTIQUE COIN COLLECTION CONDOMINIUM MONTHLY GROCERIES $3,250 $65.000 $225 AUTOMOBILE $9,000 FURNITURE $5,500 MORTGAGE BALANCE $50,000 $4,225 AUTO LOAN BALANCE $265 MONTHLY CAR PAYMENT $8,000 $275 MONTHLY UTILITY BILL OTHER PERSONAL PROPERTY $150 OTHER MONTHLY CASH EXPENSES SAVINGS ACCT BALANCE $2,300 MONTHLY CLOTHING EXPENSES $45 $264 ANNUAL MEDICAL EXPENSES *Bills represent the average of the prior month's charges AND ALSO current month's expenses ASSIGNMENT CH 2 CLASS 1.docx Help Normal B / U A A- EE Questions: 1) What are the Monetary Assets listed above? 2) What are the investment Assets listed above? 3) What are the Retirement Assets listed above? 4) How much are the Total Assets? 5) What are the Current (short term) Debts listed above? 6) What are the total debts? 7) What is your client's net worth? 8) What is the Current Ratio? 9) What is the Debt Ratio? HINT: Since they are average amounts you may assume that the credit card and utility bills are both a debt related to the prior month) and an expense (related to the current month)
