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I need to calculate the Credit card and charge account For YEAR 2: If You decided to pay down or pay-off you credit cards and
I need to calculate the Credit card and charge account For YEAR 2: If You decided to pay down or pay-off you credit cards and charge accounts, by taking cash from your checking and/or savings accounts.
ACTION: Reduce credit cards and cash by the same amount. How do I do the calculation to find the Credit cards and charge account. (Please see the attachment Spread sheet.)
What is the equation for this: is it ( Checking account + Saving accounts ) - Credit cards and charge account from previous period ?
Due: Tuesday Feb Due: Thursday Mar Due: Thursday Feb 2 1,000 S40,690 S45.890 heckling Accounts 8000 37 695 45,449 avings Accounts utual Funds 16000 18.400 21.160 tocks 10,000 8.500 9350 onds 30000 2.700 2.565 ehicles and Boats 15.000 13.500 11.475 eal Estate-Personal Residence 770,000 80,500 885500 eal Estate. CommerciaRenta 30,000 32,400 35.640 ife Insurance cash value 2.000 2.040 2101 urniture, HHG, electronics 2500 4625 3931 ersonal assets, clothing, ewelry 2500 2500 2500 TOTAL ASSET $252,000 $306,561 $278,050 ABILITIES redit Cards & Charge Account S25,800.0 eaEstate Debt 104 000 100880 TOTAL LIABILITIES S1 54.40 $145,680 $132,370 NET WORTH (Assets Liabilities) $97,600 Liquidity Ratio Liquid Assets (checking & 174.97% 37.70% savings on urr Liab (CrCards Chg Accts Other ST Debth 61.27% 52.39%Step by Step Solution
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