Question
Personal Financial Statements Lisa is trying to get her personal finances in order. She does not know how to organize the following information. Mortgage Payment
Personal Financial Statements
Lisa is trying to get her personal finances in order. She does not know how to organize the following information.
Mortgage Payment | 1,175 |
House | 210,000 |
Credit Card Balance | 9,300 |
After-tax Income | 3,000 |
Groceries Expense | 240 |
Car | 15,000 |
Clothing | 450 |
Car Loan Payment | 360 |
Furniture | 10,000 |
Car Loan | 10,000 |
Car Maintenance | 150 |
Utilities Expense | 100 |
Cash in bank | 500 |
Mortgage | 181,000 |
Recreation Expense | 400 |
Lisa has come to you for help.
(A) Organize the above financial information into a properly formatted (i) Personal Cash Flow Statement and (ii) Personal Balance Sheet. (10 marks)
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