240ch18answerkey2010 - E 1815 Personal Budgeting 1. Monthly...

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Unformatted text preview: E 1815 Personal Budgeting 1. Monthly Budget: Salary (monthly) ........................................................... $ 4,500 Withholdings: Income taxes (federal and state)............................ $1,125 FICA taxes (7.65%) .................................................. 344 (1,469) Net take-home pay............................................. $ 3,031 Fixed expenses: Boat payment expense ........................................... $ 425 Rent expense........................................................... 600 Car payment expense ............................................. 350 (1,375) Net disposable income...................................... $ 1,656 Other expenses: Food ......................................................................... $ 250 Clothing.................................................................... 125 Entertainment.......................................................... 250 Insurance ................................................................. 150 Gas and othercar ................................................. 200 Utilities ..................................................................... 130 (1,105) Available for savings ......................................... Available for savings ....
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This note was uploaded on 10/16/2011 for the course ACC 240 taught by Professor Sidneyford during the Fall '10 term at Chandler-Gilbert Community College.

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240ch18answerkey2010 - E 1815 Personal Budgeting 1. Monthly...

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