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the dollar sign need to be answered signment: Chapter 02 Using Financial Statements and Budgets Income and Expense Statement Name(s): Brock and Sam Wilson For
the dollar sign need to be answered
signment: Chapter 02 Using Financial Statements and Budgets Income and Expense Statement Name(s): Brock and Sam Wilson For the year ending: As of December 31, 20XX Income Wages and salaries Bonuses and commissions (1) Total Income: Expenses Housing Utilities Food Transportation Insurance Taxes Fun money Parents' loan (2) Total Expenses: Name:BrockWilsonName:SamWilsonBrocksbonus$19,50017,5501,950$39,000 Dollars (2) Total Expenses: Surplus (Deficit): In addition to the statement, you will need to know the following information: - They estimated their net annual income (after taxes and employer deductions) at $14,625 for Brock and $13,163 for $am - Insurance is paid at the end of each calendar quarter - Sam purchases her commuter pass on the first of each month - The parents' loan is money they borrowed from Sam's parents to pay off their student loans. How much they pay each month is determined by them - The fun money listed on the statement is the money spent for a crulse to Mexico. They didn't keep track of any other entertainment expenses (such as dinners out and movies) incurred during the year. a minus sign. Looking at the completed budget, what single item would you recommend that they add to their budget? Savings and investments Dividend and interest income Pensions and annulties This is becauser The couple needs to increase their distributions from their retirement plans. The couple needs to increase their taxable income. The couple needs to budget for contingencies and save for future goals Step by Step Solution
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