Please help! I am supposed to use the January 1st , 2019 asset and liability information, in order to develop a balance sheet. (Assuming no
Please help!
I am supposed to use the January 1st , 2019 asset and liability information, in order to develop a balance sheet. (Assuming no unpaid bills).
Assets on a balance sheet should be listed at the current fair market value, not the purchase price. Liabilities are listed at the current outstanding balance.
Also need help figuring out her Net Worth!
ASSETS _ January 1 , 2010 LOCATION BALANCE RATE OF MATURITY CHECKING Compass. Hank\\ \\$1. 123 INTEREST WIN SAVINGS Wells Fargo $2. 175 1 . 1% NIAN MONEY MARKET American State \\$4, 7:58 Hank 1.25%' NIA ACCOUNT COS E _ Trade Flank E - Trade Bank $1 1 , 100 $7 . 0100 2.25%/16 5/1/2017 5/1/2010 CASH ON HAND $502 SECURITY INVESTMENTS Security SHARES Cost of Plasia Current Value Date Per Total \\PET \\Total 200 Acquired Share Share 150 Bank of America Corp . [BAC 5/1997 Verizon Communications Ins . (V Z ) \\12.44\\ \\2, 48 8 \\15. 87 50 Apple Inc. ( AAPLY 3/2009 \\]3.58\\ 250 Vanguard Mid - Cap ETF IVO ] 12/2014 \\57. 86\\ \\5, 037 \\45.33 \\109.90 \\8/2010 \\2.893\\ 75. 87 \\18.567| 120. 8 B AUTOMOBILE ( 5 ) Year 2010 Make Made! Chevy Malibu Cost Current Value* $20, 0.00 $12. 450 REAL & PERSONAL PROPERTY* Furniture and Stereo and TV's Market Value Replacement Value* Clothing and Jewelry $ 33, 0:00 $ 62,000 Computers , printer , etc $ 15 , 750 $ 24, 0.0 0 5 , 250 $ Exercise Equipment 3. 750 Miscellaneous household items 9.50.0 $ 14, 100 5,000 |7, 000LIABILITIES How Total # of Date of To whom Original Property or Interest Current Payment Service Rate Balance Amount often Payments First owed Amount paid Payment of Purchased Account Texas A&M 53,000 Education 4.8% 5 $556.98 Monthly 120 9/30/2009 Credit Union Wells Fargo 20,000 Malibu 5.35% $380.64 Monthly 60 1/01/2016 2,850 Debt 10.35% $61.05 Monthly 60 3/30/2017 Texas A&M Credit Union Consolidation "Calculate the amounts that are missing using TVM calculations. Credit Cards - January 1, 2019 Annual Interest Credit Outstanding Min Grace Calculation Rate Limit Payment Period Method Fee Balance Texaco 1765421 11.9% $1,500 $237 20% of yes Av. Daily 1755 Balance Balance or $50 Master 421246 $40 20.75% $15,000 $3,245 59% of yes 2-cycle Av. Card 11232 Balance Daily or $25 Balance Visa 2418178 $0 13.15% $5,000 $0 5% of yes Av. Daily 1554 Balance Balance or $25 Dillard's 128466 $0 20.0% $1,000 $695 10% of yes 2-cycle Av. 76337 Balance Daily or $20 Balance Capital 1626 $35 25.1% $25,500 $8,486 3% of No 2-cycle Av. One 5512 Balance Daily 7111 or $40 Balance
