Calculating Net Worth and Net Surplus Jennifer Pontesso, from Lincoln, Nebraska, wants to better understand her financial situation. Use the following balance sheet and cash flow statement information to determine her net worth and her net surplus for a recent month. Liquid assets: $10,000; home value: $190,000; monthly mortgage payment: $1,200 on $160,000 mortgage; investment assets: $90,000; personal property: $22,000; total assets: $312,000; short-term debt: $3,240 ($270 a month); total debt: $163,240; monthly gross income: $11,000; monthly disposable income: $6,500; monthly expenses: $5,000. Round your answers to the nearest dollar.

Calculating Net Worth and Net Surplus Jennifer Pontesso, from Lincoln, Nebraska, wants to better understand her financial situation. Use the following balance sheet and cash flow statement information to determine her net worth and her net surplus for a recent month. Liquid assets: $10,000; home value: $190,000; monthly mortgage payment: $1,200 on $160,000 mortgage; investment assets: $90,000; personal property: $22,000; total assets: $312,000; short-term debt: $3,240 ($270 a month); total debt: $163,240; monthly gross income: $11,000; monthly disposable income: $6,500; monthly expenses: $5,000. Round your answers to the nearest dollar.

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter3: Financial Statements, Tools, And Budgets

Section: Chapter Questions

Problem 5DTM

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Jennifer Pontesso, from Lincoln, Nebraska, wants to better understand her financial situation. Use the following balance sheet and cash flow statement information to determine her net worth and her net surplus for a recent month. Liquid assets: $15,000; home value: $200,000; monthly mortgage payment: $1,400 on $160,000 mortgage; investment assets: $100,000; personal property: $22,000; total assets: $337,000; short-term debt: $3,480 ($290 a month); total debt: $163,480; monthly gross income: $13,000; monthly disposable income: $6,200; monthly expenses: $7,000. Round your answers to the nearest dollar.
Jennifer Pontesso, from Lincoln, Nebraska, wants to better understand her financial situation. Use the following balance sheet and cash flow statement information to determine her net worth and her net surplus for a recent month. Liquid assets: $10,000; home value: $210,000; monthly mortgage payment: $1,300 on $170,000 mortgage; investment assets: $90,000; personal property: $20,000; total assets: $330,000; short term debt: $5,500 ($250 a month); total debt: $175,500; monthy gross income: $9,000; monthly disposable income: $6,800; monthly expenses: $6,000.
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