Chapter_3_Solutions_to_Book_Problems

Chapter_3_Solutions_to_Book_Problems - Construct a personal...

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Davey Jones Personal Income Statement (Cash Flow Statement) (No time frame in problem) Income TOTAL INCOME Fixes Expenses 7,980 3060 1700 1100 3000 2100 9700 $28,640 Variable Expenses 2400 1200 2000 2000 $7,600 TOTAL EXPENSES $36,240 (Cash Balance at the end of the year) Construct a personal income statement for the Davey Jones Family using the following information: salaries, $42,0 $2,400; interest income, $150; transportation, $1,200; dividend income, $190; automobile payment, $3,060; clothe payment, $1,700; property taxes, $1,100; utilities, $3,000; insurance, $2,100; income taxes $9,700; and recreation family’s disposable income? TOTAL FIXED EXPENSES TOTAL VARIABLE EXPENSES
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$42,000 150 190 $42,340 $6,100 ,000; mortgage payment, $7,980; food, es and personal, $2,000; student loan n and vacation, $2,000. What is the
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Davey Jones Personal Income Statement (Cash Flow Statement) (No time frame in problem) Income Salaries Dividend Income Interest Income TOTAL INCOME Fixes Expenses Mortgage Payment $7,980 Automobile Payment 3,060 Property Taxes 1,100 Student Loan Payment 1,700 Insurance 2,100 Utilities 3,000 Income Taxes 9,700 $28,640 Variable Expenses Food $2,400 Transportation 1,200 Clothes and Personal 2,000 Recreation and Vacation 2,000 $7,600 TOTAL EXPENSES (Cash Balance at the end of the year) Construct a personal income statement for the Davey Jones Family using the following information: salaries, $42,0 $2,400; interest income, $150; transportation, $1,200; dividend income, $190; automobile payment, $3,060; clothe payment, $1,700; property taxes, $1,100; utilities, $3,000; insurance, $2,100; income taxes $9,700; and recreation family’s disposable income? TOTAL FIXED EXPENSES TOTAL VARIABLE EXPENSES
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$42,000 190 150 $42,340 $36,240 $6,100 ,000; mortgage payment, $7,980; food, es and personal, $2,000; student loan n and vacation, $2,000. What is the
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Davey Jones Family Statement of Financial Position (No date given) Assets Cash and Cash Equivalents 2550 11650 Total Cash and Cash Equivalents $14,200 Invested Assets 2600 15000 Total Invested Assets $17,600 Use Assets Residence 110000 Automobile 12000 Furniture, Clothing, and Jewelry 8000 Total Use Assets $130,000 Total Assets $161,800 Liabilities and Net Worth Liabilities Student Loan Balance 6000 Credit Card Balance 4000 Automobile Loan Balance 12000 Mortgage Loan Balance 99000 Total Liabilities $121,000 Net Worth 40,800 Total Liabilities and Net Worth $161,800 Construct a statement of financial position (balance sheet) for the Davey Jones family using the following inf checking account, $2,500; student loan balance, $6,000; stocks and bonds, $2,600; savings account, $5,850; automobile, $12,000; savings account, $5,800; automobile loan balance, $12,000; 401K retirement account, $15, jewelry, $8,000; credit card balance, $4,000; and mortgage loan balance, $99,000.
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formation: cash, $50; residence, $110,000; ,000; furniture, clothing,
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Davey Jones Family Statement of Financial Position
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This note was uploaded on 04/11/2011 for the course AGEC 4403 taught by Professor D during the Fall '09 term at LSU.

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Chapter_3_Solutions_to_Book_Problems - Construct a personal...

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