Financial Portfolio Project Part 3

Personal Financial Statement Project For the Personal Financial Statement Project: 1. Record the events on the next page in the accompanying formula worksheet 2. Write out the journal entries for the events on the next page 3. Create the financial statements with the ending information from the worksheet 4. Once you have your Financial Statements completed, please make a comment or two in the online text input box about what the information is telling you Event List 1. Opened a bank account with previously earned (retained earnings) money for $100,000 2. Bought a house by paying $75,000 down in cash and taking a loan of $225,000 3. Bought a vehicle by paying $1,000 down in cash and taking a loan of $44,000 4. Worked (performed services) to clients for $80,000 cash 5. Paid for materials used (expense) in the services performed with cash for $50,000 6. Paid for repairs and utilities of the house and vehicle (just regular expenses) with cash for $8,500 7. During the year, you paid $5,000…

Your friend Binna has a money market mutual fund​ account, automatic deposit of her paycheck into an​ interest-bearing checking account at the company credit​ union, and a CD from the local branch of a bank that advertises​ "coast-to-coast" banking. What is the benefit of​ "mixing and​ matching" financial institutions and their​ services?       Question content area bottom Part 1 What is the benefit of​ "mixing and​ matching" financial institutions and their​ services?  ​(Choose all that​ apply.)     A. Increasing the flexibility of managing funds.   B. Increasing risk due to increased investments.   C. Minimizing service charges and other fees.   D. Maximizing the returns and features from combined accounts.

TRY TO DISCOVER! Five Keys of Loan Applications (Williams, Mark, 2019) What do you think are banks, lending institution and financing companies look for when reviewing a loan application of prospective client borrower? The most fundamental characteristics most prospective lenders will concentrate on include: 1. Credit history 2. Cash flow history and projections for the business 3. Collateral available to secure the loan 4. Character 5. Myriad pieces of loan documentation that includes business and personal financial statements, income tax returns, a business plan and that essentially sums up and provides evidence for the first four items listed.

Can you fill in the tables and answer the questions? I would appreciate it If you could also explain how to plug this into a financial calculator. Here's a link to a financial calculator: http://www.fncalculator.com/financialcalculator?type=tvmCalculator

Short Answer Essay Question: DAS • Understanding Fundamentals of Personal Finance • Career Planning • Financial Statements, Tools, and Budgets • Managing Income Taxes • Managing Checking & Savings Accounts • Building & Maintaining Good Credit • Credit Cards & Consumer Loans • Vehicles & Other Major Purchases What are three key things you have learned from any of the areas above, that you have adopted in your own personal financial management practices?

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How do you create a loan in Quickbooks? A. Select Banking > Create Loan B. Use the loan manager C. Create the loan account D. Create a liability account

COSTS & FEATURES OF A CHECKING ACCOUNT Read each situation below, then circle the choice that you think is the best banking solution. In the last column, describe why you believe it was the best banking solution. 1 DR = 2% 2 SITUATION 102 7.50 1. Monica typically has about $750 in her checking account. She also uses a debit card wand online banking regularly. 750 Xby 2 7:03 The Vasquez family keeps a balance of $3,000 in their checking account. They use checks to pay their household bills and use their debit card sparingly. CHOICES a. Bank of Texas charges a $10 monthly fee for online banking. b. Bank of the South charges 2% of the checking account balance. a. Texas First charges 1% of the checking account balance. b. State Bank charges a $3 fee for each written check and a $5 per month debit card fee. EXPLANATION 7.50 Y 02- $15.00 Skyld Skylar has a part-time job and makes about $200 per week. She would like to be able to access her bank account online. a. First State Bank charges a…

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research two local banks in your area and compare/contrast one service that they offer. For example you may want to look at the type of checking accounts offered and compare the features between these; What are the interest rates offered? How many withdrawls are you allowed? What fees are associated with the account ? Do they offer a budgeting app, online banking etc? You could do this for savings accounts, buisness accounts, etc. Discuss  what features you find most important, and which bank you would choose based on your research.

Dlhos - YouT A Apex Learning - Apex Learning - Courses A https://course.apexlearning.com/public/activity/7001002/assessment cial Literacy 1 7.1.2 Exam: Exam Question 1 of 40 Which of these options for saving money offers the most liquidity? A. A savings bond B. A money market account C. A piggy bank D. A basic savings account SUBMIT E PREVIOUS re to search

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Part 2: Credit Cards Another type of personal loan is a credit card. A financial institution allows you to charge a purchase to your account, and you are required to pay the financial institution at a later time. As with other loans, credit cards charge interest. Interest rates can range from 3% - 22%. When you are paying for debt on a credit card, the financial institution will require a minimum balance be paid each month. The higher the interest rate that is charged on the credit card, the larger the minimum payment will be. You can use credit card payoff calculators such as the one in the following link to determine how much to pay each month and how long it will take to pay off a credit card. credit card calculator When using the credit card calculator, be certain that the monthly charges (new spending or borrowing) are set to 0. Part 2 Exercises: Assume you have answer the following questions. balance of $1,800 on a credit card. Use the credit card payoff calculator to a. If the…

1. Describe the importance of a credit score for financial planning. 2. List the credit bureaus and list information that is contained in a person's credit report. 3. Review at least two sources of free credit reports, such as Credit Karma or any other site that you are familiar with. As described on one of these sites, name the factors that affect credit scores. 4. Propose a strategy that is expected to increase a person's credit score.