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Practice Exercise Using the information given below, please attempt the questions 1 . Using the data below prepare a balance sheet and cash flow statement.
Practice Exercise
Using the information given below, please attempt the questions
Using the data below prepare a balance sheet and cash flow statement. Determine the total asset, total liabilities, net worth, total cash inflow, and total outflow
i Rent for the month$
ii Monthly take home pay$
iii. Cash in chequing account $
iv Savings account balance$
v Spending for food$
vi Balance of educational loan$
vii. Current value of automobile$
viii. Telephone bill monthly$
ix Credit card balance$
x Loan payment$
xi Auto insurance$
xii. Household possessions$
xiii. Stereo equipment$
xiv. Electricity payment $
xv Lunches and parking at work$
xvi. Donations$
xvii. Home computer$
xviii. Value of stock investment$
xix. Clothing purchase$
xx Restaurant spending$
Bill and sally Kaplan have an annual spending plan that amounts to $ If the inflation is for the next years, how much do the Kaplans want for their living expenses years from now?
Using the formula in the not posted, compute the time value of money for saving.
i The future value of a $ savings deposit after years at an annual interest rate of
ii The future value of saving $ a year for years at an annual interest rate of
iii. The present value needed in a saving account that will earn annual interest rate if $ is needed at the end of years.
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