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The Tools and the Rules of Personal Finance financial statements & ratios and basic tax fundamentals impact the financial planning process. the I&E Statement,
The Tools and the Rules of Personal Finance financial statements & ratios and basic tax fundamentals impact the financial planning process. the I&E Statement, amount is annual Jessica Age 34 Salary $ 60,000.00 Mortgage Payment $ 22,000.00 Money Market Account $ 15,000.00 Mutual Fund $ 1,000.00 House $ 160,000.00 Fumiture $ 2,300.00 Mortgage Balance $ 138,000.00 8,500.00 Roth IRA $ Credit Card Payment $ Entertainment $ 600.00 Checking Account $ 1,200.00 22,000.00 Car Payment $ 5,100.00 Consulting Income $ 2,000.00 Car Loan Balance $ 4,000.00 Groceries $ 2,400.00 Fuel $ 1,000.00 Car $ 8,000.00 Employer Plan $ 10,000.00 Student Loan Payment $ 6,000.00 Other (Jewelry) $ 500.00 Credit Card Balance $ 1,000.00 Annual Savings $ 2,500.00 Savings Account $ 5,000.00 Past-Due Bill S 350,00 Student Loan Balance $ 20,000.00 Insurance Payment $ 3,000.00 Utilities $ 2,300.00 LG3-Q2 Application Time -Jessica's Balance Sheet December 31 ASSETS Monetary Investment Total Monetary Total Investment 15 Household 46 47 50 51 61 Total Household Retirement Total Retirement Personal Property Total Personal Property TOTAL ASSETS LG3-Q3 Application Time-Ratios Ratio 65 Laving Expenses Covered Debt UNSUNDES Debt Service to income Savings Investment Assets to Total Assets LG3-04 Application Time Analy LIABILITIES & NET WORTH Short-Term Long-Tem Total Short-Term Total Long-Tem TOTAL LIABILITIES TOTAL NET WORTH G G3-Q4 Application Time - Analysis How well is Jessica managing her finances? Provide two examples from the financial statements and ratios. 81 82 R3 What areas can Jessica improve on with her finances? Provide two examples from the financial statements and ratios. Identify one tax related concept that would be helpful for Jessica to know?
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