Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please prepare a cash flow statement for this current month for your client Julia using Excel spreadsheet. Total income - 2 points Total expenses -

Please prepare a cash flow statement for this current month for your client Julia using Excel spreadsheet.

Total income - 2 points

Total expenses - 2.5 points

Net cash flow - 0.5 point

Julia, a 26-year-old graduate student in Visual Arts and Design major, has been paying off her bills on time. She owns a condo with down payment paid off using the inherited money from her grandparents. Her uncle helped her with some investments in stocks and mutual funds. Julia starts worrying about her financial situation, because she will graduate next year and needs to save for her doctoral studies in France. You, as one of her best friends in town and just learned financial statement analysis, were asked to help Julia check her current financial position. After a short discussion, Julia provided the following information for her last month's income and expenses.

Income As a Graduate Assistant $1800
Income As A Painting Teacher $800
Investment Income $200
Utility $265
Clothing $120
Auto Insurance Premium $25
Homeowners Insurance Premium $25
Netflix $10
Spotify $10
Food/Groceries $250
Dining Out $120
Gym Membership $25
Medical Expenses (Out of Pocket) $40
Friends Birthday Gift $50
Car Maintenance $40
Gas $40
On Campus Parking $21

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

Students also viewed these Finance questions

Question

What can you tell about each employer from the code of conduct?

Answered: 1 week ago