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I need some help with this question for my personal finance class. I have attached the question and the document you will need. Thanks in
I need some help with this question for my personal finance class. I have attached the question and the document you will need. Thanks in advance.
A rumor of \"right sizing\" at Ojai's engineering firm has him and his wife, Kaya, concerned about their preparation for meeting financial emergencies. Help them calculate their net worth or complete worksheet 4, and calculate and interpret the current ratio, given the following assets and liabilities: Checking Account-$2,000 Savings Account-$4,000 Stocks-8,000 Utility Bills-$500 Credit Card Bills-$1,000 Auto Loan-$2,600 W4 WORKSHEET Balance Sheet - Calculating Your Net Worth Assets Cash Checking Savings/CDs Money Market Funds Other Monetary Assets A. Monetary Assets Value + + + + A. = Mutual Funds Stocks Bonds Life Insurance (cash-value) Cash Value of Annuities Investment Real Estate (REITs, partnerships) Other investments B. Investments B. $0 + + + + + + = $0 401(k) and 403(b) Company Pension Keogh IRA Other Retirement Plans C. Retirement Plans + + + + C. = $0 Primary Residence 2nd Home Time-Shares/Condominiums Other Housing D. Housing (market value) + + + D. = $0 Automobile 1 Automobile 2 Other Automobiles E. Automobiles + + E. = $0 Collectibles Boats Furniture Other Personal Property F. Personal Property + + + F. = $0 Money Owed You Market Value of Your Business Other G. Other Assets + + G. = $0 H. Total Assets (add lines A through G) H. = $0 W3 WORKSHEET Balance Sheet - Calculating Your Net Worth (continued) Liabilities or Debts I. Current Bills (unpaid balance) Value I. = Visa Master Card Other Credit Cards J. Credit Card Debt + + J. = $0 First Mortgage 2nd Home Mortgage Home Equity Loan Other Housing Debt K. Housing + + + K. = $0 Automobile 1 Automobile 2 Other Automobile Loans L. Automobile Loans + + L. = $0 College Loans Loans on Life Insurance Policies Bank Loans Installment Loans Other M. Other Debts + + + + M. = $0 N. Total Debt (add lines I through M) N. = $0 Net Worth H. Total Assets N. Less: Total Debt O. Equals: Net Worth H. + N. O. = $0 $0 $0Step by Step Solution
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