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(a) Prepare a personal cash flow. .

(a) Prepare a personal cash flow. .

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 3 Jess is a single 33 year-old employed by local council and has a gross income of $105,000 for the financial yea. Fortnightly salary deductions (based on gross income) for Jess are as follows: Details Percentage % Taxation (effective rate) 27 Personal super contributions 3 (ig salary sacrifice to super) Health cover Other annual expenditures: Details Household expenses Mortgage loan rераутеnts Car loan repayments Entertainment expenses Amount (S) 39,000 24,000 12,000 25,000 Assets and liabilities: Details Amount (S) Assets - House and personal effects 650,000 Superannuation Car 160,000 40,000 Savings account 6,000 Liabilities - Mortgage loan 350,000 Credit card balance 10,000 (a) Prepare a personal cash flow. - (b) Prepare a current personal balance sheet
Transcribed Image Text:Question 3 Jess is a single 33 year-old employed by local council and has a gross income of $105,000 for the financial yea. Fortnightly salary deductions (based on gross income) for Jess are as follows: Details Percentage % Taxation (effective rate) 27 Personal super contributions 3 (ig salary sacrifice to super) Health cover Other annual expenditures: Details Household expenses Mortgage loan rераутеnts Car loan repayments Entertainment expenses Amount (S) 39,000 24,000 12,000 25,000 Assets and liabilities: Details Amount (S) Assets - House and personal effects 650,000 Superannuation Car 160,000 40,000 Savings account 6,000 Liabilities - Mortgage loan 350,000 Credit card balance 10,000 (a) Prepare a personal cash flow. - (b) Prepare a current personal balance sheet
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