Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Corbie and James are trying to set up their budget. Corbie earns $2750 paid once a month after taxes. James gets paid every other week

Corbie and James are trying to set up their budget. Corbie earns $2750 paid once a month after taxes. James gets paid every other week for tutoring at the local library, and his smallest paycheck in the past six months was $280. Their monthly rent for their home is $925 and their most expensive month for combined utilities last year cost $325. Their smartphones cost $180 per month. They spend $120 per week on groceries, $45 per week on gas, and $620 per month for their car's payment, insurance, and maintenance savings. James spends $600 per semester (twice a year) for college tuition. They each give themselves a $100 per week allowance for personal expenses such as clothes, haircuts, dining out, and entertainment. Calculate their prorated monthly amounts, their monthly totals, and their cash flow.

(I need help finding James's paycheck, the total income, cash flow, incidentals, and total expenses)

image text in transcribed

Calculate their prorated monthly amounts, their monthly totals, and their cash flow. Income Source Monthly Amount Correct? Expense Monthly Amount Correct? Corbie's Paycheck 2750 Yes Rent 925 Yes James' Paycheck Utilities 325 Yes Phones 180 Yes Groceries 520 Yes Gas 195 Yes Car Costs 620 Yes Tuition 100 Yes Incidentals Total Income Total Expenses Cash Flow Your Score: 8

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Online Auditing Tool Towards A Generic Approach To Audit Business Processes Of An Information System On The Fly

Authors: Bhawna Mallic, Kopal Gakkhar

1st Edition

3838395115, 978-3838395111

More Books

Students also viewed these Accounting questions

Question

How did you feel about taking piano lessons as a child? (general)

Answered: 1 week ago