Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Part of being an accountant means telling your clients what they can afford. Randy and Soshana have been married for a few years and are

image text in transcribed

Part of being an accountant means telling your clients what they can afford. Randy and Soshana have been married for a few years and are looking to purchase their first home. Their combined salary is $150 000. They've saved up $75 000 for a down payment. They come to you to provide a budget of what they can afford. As an accountant, you will create a business proposal of 3 properties and include financial statement(s), showing them all the costs associated with purchasing and maintaining those properties. You will need to research various costs including all costs associated with purchasing and maintaining a home. Be strategic in your proposal. You will use Zoocasa and/or Realtor to access listings. ("In order to see sold listings on zoozasa, you have to create an account) Things to consider in your budget proposal: Price of Property Costs to maintain property Any advantages (comparing areas and properties) Client Profile - here is where you want to be strategic Randy Works for TTC Owns a car with no debt worth $8 000 Owns a cell phone ($60/month) Enjoys watching sports and movies on tv Car enthusiasts Soshana Works at Pearson Airport Owns a car with no debt worth $10 000 Owns a cell phone ($60/month) Enjoys going to concerts/shows Vacations are a must Part of being an accountant means telling your clients what they can afford. Randy and Soshana have been married for a few years and are looking to purchase their first home. Their combined salary is $150 000. They've saved up $75 000 for a down payment. They come to you to provide a budget of what they can afford. As an accountant, you will create a business proposal of 3 properties and include financial statement(s), showing them all the costs associated with purchasing and maintaining those properties. You will need to research various costs including all costs associated with purchasing and maintaining a home. Be strategic in your proposal. You will use Zoocasa and/or Realtor to access listings. ("In order to see sold listings on zoozasa, you have to create an account) Things to consider in your budget proposal: Price of Property Costs to maintain property Any advantages (comparing areas and properties) Client Profile - here is where you want to be strategic Randy Works for TTC Owns a car with no debt worth $8 000 Owns a cell phone ($60/month) Enjoys watching sports and movies on tv Car enthusiasts Soshana Works at Pearson Airport Owns a car with no debt worth $10 000 Owns a cell phone ($60/month) Enjoys going to concerts/shows Vacations are a must

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

Divine Dollars And Digital Gold

Authors: Finally Detached

1st Edition

979-8859504534

More Books

Students also viewed these Finance questions

Question

What are the application procedures?

Answered: 1 week ago