| Use Worksheet 2.1 Katie Wright's banker has asked her to submit a personal balance sheet as of June 30, 2020, in support of an application for a $3,000 home improvement loan. She comes to you for help in preparing it. So far, she has made the following list of her assets and liabilities as of June 30, 2016: | Cash on hand | $ 70 | | | Balance in checking account | 180 | | | Balance in money market deposit account with Southwest Savings | 710 | | | Bills outstanding: | | | | Telephone | $ 20 | | | Electricity | 70 | | | Charge account balance | 190 | | | Visa | 180 | | | MasterCard | 220 | | | Taxes | 400 | | | Insurance | 220 | $1,300 | | Condo and property | | 72,000 | | Condo mortgage loan | | 55,000 | | Automobile: 2016 Honda Civic | | 12,000 | | Installment loan balances: | | | | Auto loans | 3,000 | | | Furniture loan | 500 | 3,500 | | Personal property: | | | | Furniture | 1,050 | | | Clothing | 900 | 1,950 | | Investments: | | | | U.S. government savings bonds | 500 | | | Apple Stock | 3,000 | 3,500 | From the data given, prepare Katie Wright's balance sheet, dated June 30, 2020 (follow the balance sheet form shown in Worksheet 2.1). Then evaluate her balance sheet relative to the following factors: (a) solvency, (b) liquidity, and (c) equity in her dominant asset. | Balance Sheet | | Name(s): Katie Wright | Date: 30-Jun-20 | | | Assets | Liabilities and Net Worth | | | | | Liquid assets: | | | | Current liabilities: | | | | | Cash on hand | $ | | | Utilities | $ | | | | In checking | | | | Rent | | | | | Savings accounts | | | | Insurance premiums | | | | | Money Market funds and deposits | | | | Taxes | | | | | | | | | Medical/dental bills | | | | | Certificates of deposit ( | | | | Repair bills | | | | | Total Liquid Assets | $ | | | Bank credit card balances | | | | | Investments: | | | | Dept. store credit card balances | | | | | Stocks | | | | Travel and entertainment card balances | | | | | Bonds | | | | Gas and other credit balances | | | | | Certificates of deposit ( | | | | Bank line of credit balances | | | | | Mutual funds | | | | Other current liabilities | | | | | Real estate | | | | Total Current Liabilities | $ | | | | Retirement funds, IRA | | | | Long-term Liabilities | | | | | Other | | | | Primary residence mortgage | $ | | | | Total Investments | $ | | | Real estate investment | | | | | Real Property | | | | mortgage | | | | | Primary residence | $ | | | Auto loans | | | | | Second home | | | | Appliance/furniture loans | | | | | Other | | | | Home improvement loans | | | | | Total Real Property | $ | | | Single-payment loans | | | | | Personal Property | | | | Education loans | | | | | Auto(s): 2016 Honda Civic | $ | | | Margin loans | | | | | | | | | Other long-term liabilities | | | | | Recreational vehicles | | | | | | | | | Household furnishings | | | | Total Long-Term Liabilities | $ | | | | Jewelry and artwork | | | | | | | | | Other | | | | Total Liabilities | $ | | | | Other | | | | | | | | | Total Personal Property | $ | | | Net Worth | $ | | | | Total Assets | $ | | | Total Liabilities and Net Worth | $ | | | - Solvency ratio. Enter your answer as a percentage rounded to two decimal places. %
- Liquidity ratio. Enter your answer as a percentage rounded to two decimal places. %
- Equity in her dominant asset. Enter your answer as a percentage rounded to two decimal places. %
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first pic is info
second and third pic answers i need help
Namels $ Liquid Assets Cash on hand In checking Savings accounts Money market funds and deposits Certificates of deposit (dyr. to maturity) Total Liquid Assets BALANCE SHEET Date December 17, 2010 LIABILITIES AND NET WORTH Current Liabilities Utilities Rent Insurance premiums Taxes Medical/dental bills Repair bills Investments 5 Stocks Bank credit card balances Dept. store credit card balances Travel and entertainment card balances Gas and other credit card balances Bank line of credit balances Other current liabilities Bonds Certificates of deposit 1 y. to maturity) Mutual funds Real estate Retirement funds, IRA 5 Other S Total Investments Real Property 8 Primary residence Second home Other Total Real Property Personal Property Total Current Liabilities Long-Term Liabilities Primary residence mortgage Second home mortgage Real estate Investment mortgage Auto loans Appliance/furniture loans Home Improvement loans Single-payment loans Education loans Margin loans used to Ipurchase securities Other long-term loans Total Long-Term Liabilities Auto(s): Recreational vehicles Household furnishing Jewelry and artwork Other Other Total Personal Property (11) Total Liabilities $ Net Worth (0) - (0 $ Total Assets Total Liabilities and Net Worth $ - 2. Solvency ratio. Enter your answer as a percentage rounded to two decimal places. % b. Liquidity ratio. Enter your answer as a percentage rounded to two decimal places. . Equity in her dominant asset. Enter your answer as a percentage rounded to two decimal Use Worksheet 2.1 Katie Wright's banker has asked her to submit a personal balance sh of June 30, 2020, in support of an application for a $3,000 home improvement loan. She comes to you for help in preparing it. So far, she has made the following list of her assets liabilities as of June 30, 2016: 70 $ 180 710 $ 20 190 180 220 400 220 Cash on hand Balance in checking account Balance in money market deposit account with Southwest Savings Bills outstanding: Telephone Electricity Charge account balance Visa MasterCard Taxes Insurance Condo and property Condo mortgage loan Automobile: 2016 Honda Civic Installment loan balances: Auto loans Furniture loan Personal property: Furniture Clothing Investments: U.S. government savings bonds Apple Stock $1,300 72,000 55,000 12,000 3,000 500 3,500 1,050 900 1,950 500 3,000 3,500 Namels $ Liquid Assets Cash on hand In checking Savings accounts Money market funds and deposits Certificates of deposit (dyr. to maturity) Total Liquid Assets BALANCE SHEET Date December 17, 2010 LIABILITIES AND NET WORTH Current Liabilities Utilities Rent Insurance premiums Taxes Medical/dental bills Repair bills Investments 5 Stocks Bank credit card balances Dept. store credit card balances Travel and entertainment card balances Gas and other credit card balances Bank line of credit balances Other current liabilities Bonds Certificates of deposit 1 y. to maturity) Mutual funds Real estate Retirement funds, IRA 5 Other S Total Investments Real Property 8 Primary residence Second home Other Total Real Property Personal Property Total Current Liabilities Long-Term Liabilities Primary residence mortgage Second home mortgage Real estate Investment mortgage Auto loans Appliance/furniture loans Home Improvement loans Single-payment loans Education loans Margin loans used to Ipurchase securities Other long-term loans Total Long-Term Liabilities Auto(s): Recreational vehicles Household furnishing Jewelry and artwork Other Other Total Personal Property (11) Total Liabilities $ Net Worth (0) - (0 $ Total Assets Total Liabilities and Net Worth $ - 2. Solvency ratio. Enter your answer as a percentage rounded to two decimal places. % b. Liquidity ratio. Enter your answer as a percentage rounded to two decimal places. . Equity in her dominant asset. Enter your answer as a percentage rounded to two decimal Use Worksheet 2.1 Katie Wright's banker has asked her to submit a personal balance sh of June 30, 2020, in support of an application for a $3,000 home improvement loan. She comes to you for help in preparing it. So far, she has made the following list of her assets liabilities as of June 30, 2016: 70 $ 180 710 $ 20 190 180 220 400 220 Cash on hand Balance in checking account Balance in money market deposit account with Southwest Savings Bills outstanding: Telephone Electricity Charge account balance Visa MasterCard Taxes Insurance Condo and property Condo mortgage loan Automobile: 2016 Honda Civic Installment loan balances: Auto loans Furniture loan Personal property: Furniture Clothing Investments: U.S. government savings bonds Apple Stock $1,300 72,000 55,000 12,000 3,000 500 3,500 1,050 900 1,950 500 3,000 3,500
