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In order to get your personal finances under control, you need to prepare a personal budget. Assume that you have compiled the following information regarding your expected cash flows for a typical month. Rent payment $500 Miscellaneous costs $210 Interest income 50 Savings 50 Income tax withheld 300 Eating out 150 Electricity bill 85 Telephone and Internet costs 125 Groceries 100 Student loan payments 375 Wages earned 2,500 Entertainment costs 250 Insurance 100 Transportation costs 150 Using the information above, prepare a personal budget. Personal Budget

In order to get your personal finances under control, you need to prepare a personal budget. Assume that you have compiled the following information regarding your expected cash flows for a typical month. Rent payment $500 Miscellaneous costs $210 Interest income 50 Savings 50 Income tax withheld 300 Eating out 150 Electricity bill 85 Telephone and Internet costs 125 Groceries 100 Student loan payments 375 Wages earned 2,500 Entertainment costs 250 Insurance 100 Transportation costs 150 Using the information above, prepare a personal budget. Personal Budget

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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In order to get your personal finances under control, you need to prepare a personal budget. Assume that you have compiled the following information regarding your expected cash flows for a typical month. Rent payment $500 Miscellaneous costs $210 Interest income 50 Savings 50 Income tax withheld 300 Eating out 150 Electricity bill 85 Telephone and Internet costs 125 Groceries 100 Student loan payments 375 Wages earned 2,500 Entertainment costs 250 Insurance 100 Transportation costs 150 Using the information above, prepare a personal budget. Income Wages earned $ Interest income Income subtotal Income tax withheld Spendable income Expenses: Rent Utilities: Electricity Telephone and Internet Food: Groceries Eating out Insurance Personal Budget Typical Month $ Transportation costs Student loan payments SUPPORT Entertainment costs
Transcribed Image Text:In order to get your personal finances under control, you need to prepare a personal budget. Assume that you have compiled the following information regarding your expected cash flows for a typical month. Rent payment $500 Miscellaneous costs $210 Interest income 50 Savings 50 Income tax withheld 300 Eating out 150 Electricity bill 85 Telephone and Internet costs 125 Groceries 100 Student loan payments 375 Wages earned 2,500 Entertainment costs 250 Insurance 100 Transportation costs 150 Using the information above, prepare a personal budget. Income Wages earned $ Interest income Income subtotal Income tax withheld Spendable income Expenses: Rent Utilities: Electricity Telephone and Internet Food: Groceries Eating out Insurance Personal Budget Typical Month $ Transportation costs Student loan payments SUPPORT Entertainment costs
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