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hey i will be posting 4 statements I just want the assumptions I used in the statement and answer the questions please. all the financial
hey i will be posting 4 statements I just want the assumptions I used in the statement and answer the questions please. all the financial statements are provided I just need the answers given after each tables. this is the complete information.
Name: | Date: | |||||||
Monthly Budget | Actual Spending | |||||||
Jan | Feb | Mar | Apr | May | Jun | |||
INCOME | $0.00 | $2,833.00 | $2,833.00 | $2,833.00 | $2,833.00 | $2,833.00 | $2,833.00 | |
EXPENSES: | ||||||||
Savings | $0.00 | $200.00 | $200.00 | $200.00 | $200.00 | $200.00 | $200.00 | |
Mortgage/rent | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
Housing costs | $0.00 | $200.00 | $200.00 | $200.00 | $200.00 | $200.00 | $200.00 | |
Telephone | $0.00 | $200.00 | $200.00 | $200.00 | $200.00 | $200.00 | $200.00 | |
Food (at home) | $0.00 | $35.00 | $35.00 | $35.00 | $35.00 | $35.00 | $35.00 | |
Food (away) | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
Clothing | $0.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | |
Transportation | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
Credit payments | $0.00 | $25.00 | $25.00 | $25.00 | $25.00 | $25.00 | $25.00 | |
Insurance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
Health care | $0.00 | $85.00 | $35.00 | $35.00 | $35.00 | $35.00 | $85.00 | |
Recreation | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
Reading/education | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
Gifts/donations | $0.00 | $60.00 | $60.00 | $60.00 | $60.00 | $60.00 | $60.00 | |
Miscellaneous | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
Other | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
Other | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
Total Expense | $0.00 | $855.00 | $805.00 | $805.00 | $805.00 | $805.00 | $855.00 | |
Surplus (Deficit) | $0.00 | $1,978.00 | $2,028.00 | $2,028.00 | $2,028.00 | $2,028.00 | $1,978.00 |
What's Next for your Personal Financial Plan? |
* Decide which areas of spending need to be revised. |
Cash Inflows | ||||||||
Salary (take-home) | $1,950.00 | |||||||
Other income : | $0.00 | |||||||
Other income : | $0.00 | |||||||
Total Income | $1,950.00 | |||||||
Cash Outflows | ||||||||
Fixed expenses | ||||||||
Mortgage or rent | $650.00 | |||||||
Loan payments | $80.00 | |||||||
Insurance | $230.00 | |||||||
Other | $0.00 | |||||||
Other | $0.00 | |||||||
Total fixed outflows | $960.00 | |||||||
Variable expenses | ||||||||
Food | $345.00 | |||||||
Clothing | $130.00 | |||||||
Electricity | $110.00 | |||||||
Telephone | $90.00 | |||||||
Water | $65.00 | |||||||
Transportation | $70.00 | |||||||
Personal care | $180.00 | |||||||
Medical expenses | $50.00 | |||||||
Recreation/entertainment | $0.00 | |||||||
Gifts | $0.00 | |||||||
Donations | $0.00 | |||||||
Other | $0.00 | |||||||
Other | $0.00 | |||||||
Total variable outflows | $1,040.00 | |||||||
Total Outflows | $2,000.00 | |||||||
Surplus (Deficit) | ($50.00) |
What's Next for your Personal Financial Plan? |
* Decide which areas of spending need to be revised. |
Assets | |||||
Liquid assets | |||||
Checking account balance | |||||
Savings/money market accounts, funds | $1,600.00 | ||||
Cash value of life insurance | $7,200.00 | ||||
Other | $6,250.00 | ||||
Total liquid assets | $0.00 | $15,050.00 | |||
Household assets and possessions | |||||
Current market value of home | |||||
Market value of automobiles | $180,000.00 | ||||
Furniture | $12,000.00 | ||||
Computer, electronics, camera | $6,000.00 | ||||
Jewelry | $600.00 | ||||
Other | |||||
Other | |||||
Total household assets | $0.00 | $198,600.00 | |||
Investment assets | $0.00 | ||||
Savings certificates | $7,560.00 | ||||
Stocks and bonds | $10,500.00 | ||||
Retirement accounts | $0.00 | ||||
Mutual funds | |||||
Other | |||||
Total investment assets | $18,060.00 | ||||
Total assets | $231,710.00 | ||||
Liabilities | $0.00 | ||||
Current liabilities | $4,000.00 | ||||
Charge account and credit card balances | $0.00 | ||||
Loan balances | $0.00 | ||||
Other | |||||
Other | |||||
Total current liabilities | $150,000.00 | $0.00 | |||
Long-term liabilities | $0.00 | ||||
Mortgage | |||||
Other | |||||
Total long-term liabilities | $0.00 | ||||
Total liabilities | $0.00 | ||||
Net Worth | $231,710.00 | ||||
(assets minus liabilities) |
* Compare your net worth to previous balance sheets. |
* Decide how often you will make a balance sheet. |
just answer the questions given after every table using the assumptions from the tables of each question.
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