Financial Planning Exercise 4 Preparing personal income and expense statement Use Worksheet 2.2 Robyn and Matthew Scott are about to construct their income and expense statement for the year ending December 31, 2020. Robyn works full time while Matthew is finishing up graduate school. They have put together the following income and expense information for 2020: Robyn's salary h 02: End-of-Chapter Problems - Using Financial Statements and Budgets Chapter 2 Financial Planning Exercise 4 Preparing personal income and expense statement Use Worksheet 2.2 Robyn and Matthew Scott are about to construct their income and exper They have put together the following income and expense information for 2020: $47,000 2,200 Robyn's salary Reimbursement for travel expenses Interest on: Savings account Certificates of deposit Groceries Rent Utilities Gas and auto expenses Matthew's tuition, books, and supplies Books, magazines, and periodicals Clothing and other miscellaneous expenses Cost of photographic equipment purchased with charge card Amount paid this year on photographic equipment Robyn's travel expenses Purchase of a used car (cost) Outstanding loan balance on car Purchase of bonds in Verizon Communications Inc. 110 70 4,150 9,300 960 650 3,300 280 2,500 2,200 1,600 1,950 9,750 7,300 4,900 Using the information provided, prepare an income and expense statement for the Scotts for the ye values. search 2: End-of-Chapter Problems - Using Financial Statements and Budgets Purchase of bonds in Venzon Communications Inc. 4,900 sing the information provided, prepare an income and expense statement for the Scotts for the yea values. INCOME AND EXPENSE STATEMENT Name(s) Robyn and Matthew Scott For the year Ended December 31, 2020 INCOME Wages and salaries Name: Robyn Name: Name: Self-employment income Bonuses and commissions Investment income Interest received Dividends received Rents received Sale of securities -- Gain or Loss Other: Reimbursement of Robyn's travel expenses Pensions and annuities Other income (1) Total Income EXPENSES Housing Rent/mortgage payment (include insurance and taxes, if applicable) Repairs, maintenance, improvements arch o i a e No Other income (1) Total Income $ EXPENSES Housing Rent/mortgage payment (include insurance and taxes, if applicable) Repairs, maintenance, improvements Gas, electric, water Phone Cable TV and other Utilities Food Groceries Dining out Transportation Medical Clothing Insurance Auto loan payments License plates, fees, etc. Gas, oil, repairs, tires, maintenance Health, major medical, disability insurance (payroll deductions or not provided by employer) Doctor, dentist, hospital, medicines Clothes, Shoes, and accessories Homeowner's (if not covered by mortgage payment) Life (not provided by employer) Auto Income and social security Property (if not included in mortgage) Loan payments Purchases and repairs Laundry, cosmetics, hair care Vacations Other recreation and entertainment Matthew's tuition, books, and supplies Photographic equipment -- amount paid Robyn's travel expenses Appliances, furniture, and other major purchases Personal care Recreation and entertainment other items (I) Total Expenses CASH SURPLUS (OR DEFICIT) (1) (1) Financial Planning Exercise 4 Preparing personal income and expense statement Use Worksheet 2.2 Robyn and Matthew Scott are about to construct their income and expense statement for the year ending December 31, 2020. Robyn works full time while Matthew is finishing up graduate school. They have put together the following income and expense information for 2020: Robyn's salary h 02: End-of-Chapter Problems - Using Financial Statements and Budgets Chapter 2 Financial Planning Exercise 4 Preparing personal income and expense statement Use Worksheet 2.2 Robyn and Matthew Scott are about to construct their income and exper They have put together the following income and expense information for 2020: $47,000 2,200 Robyn's salary Reimbursement for travel expenses Interest on: Savings account Certificates of deposit Groceries Rent Utilities Gas and auto expenses Matthew's tuition, books, and supplies Books, magazines, and periodicals Clothing and other miscellaneous expenses Cost of photographic equipment purchased with charge card Amount paid this year on photographic equipment Robyn's travel expenses Purchase of a used car (cost) Outstanding loan balance on car Purchase of bonds in Verizon Communications Inc. 110 70 4,150 9,300 960 650 3,300 280 2,500 2,200 1,600 1,950 9,750 7,300 4,900 Using the information provided, prepare an income and expense statement for the Scotts for the ye values. search 2: End-of-Chapter Problems - Using Financial Statements and Budgets Purchase of bonds in Venzon Communications Inc. 4,900 sing the information provided, prepare an income and expense statement for the Scotts for the yea values. INCOME AND EXPENSE STATEMENT Name(s) Robyn and Matthew Scott For the year Ended December 31, 2020 INCOME Wages and salaries Name: Robyn Name: Name: Self-employment income Bonuses and commissions Investment income Interest received Dividends received Rents received Sale of securities -- Gain or Loss Other: Reimbursement of Robyn's travel expenses Pensions and annuities Other income (1) Total Income EXPENSES Housing Rent/mortgage payment (include insurance and taxes, if applicable) Repairs, maintenance, improvements arch o i a e No Other income (1) Total Income $ EXPENSES Housing Rent/mortgage payment (include insurance and taxes, if applicable) Repairs, maintenance, improvements Gas, electric, water Phone Cable TV and other Utilities Food Groceries Dining out Transportation Medical Clothing Insurance Auto loan payments License plates, fees, etc. Gas, oil, repairs, tires, maintenance Health, major medical, disability insurance (payroll deductions or not provided by employer) Doctor, dentist, hospital, medicines Clothes, Shoes, and accessories Homeowner's (if not covered by mortgage payment) Life (not provided by employer) Auto Income and social security Property (if not included in mortgage) Loan payments Purchases and repairs Laundry, cosmetics, hair care Vacations Other recreation and entertainment Matthew's tuition, books, and supplies Photographic equipment -- amount paid Robyn's travel expenses Appliances, furniture, and other major purchases Personal care Recreation and entertainment other items (I) Total Expenses CASH SURPLUS (OR DEFICIT) (1) (1)