Income statement preparation Adam and Arin Adams have collected their personal income and expense information and have asked you to put together an income and expense statement for the year. The following information is received from the Adams family 9 a. Create a personal income and expense statement for the Adams family. It should be similar to a corporate income statement. b. Did the Adams family have a cash surplus or cash deficit? c. If the result is a surplus, how can the Adams family use that surplus? a. Create a personal income and expense statement for the Adams family. It should be similar to a corporate income statement. Complete the income part of the personal income and expense statement (Round to the nearest dollar.) Personal Income and Expense Statement Period Ended December 31, 2021 Income Adam's salary $4 Arin's salary Interest received Dividends received Total Income Complete the expenses part of the personal income and expense statement: (Round to the nearest dollar.)
Income statement preparation Adam and Arin Adams have collected their personal income and expense information and have asked you to put together an income and expense statement for the year. The following information is received from the Adams family 9 a. Create a personal income and expense statement for the Adams family. It should be similar to a corporate income statement. b. Did the Adams family have a cash surplus or cash deficit? c. If the result is a surplus, how can the Adams family use that surplus? a. Create a personal income and expense statement for the Adams family. It should be similar to a corporate income statement. Complete the income part of the personal income and expense statement (Round to the nearest dollar.) Personal Income and Expense Statement Period Ended December 31, 2021 Income Adam's salary $4 Arin's salary Interest received Dividends received Total Income Complete the expenses part of the personal income and expense statement: (Round to the nearest dollar.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please help me answeer the following given

Transcribed Image Text:Data table
(Click the icon here o in order to copy the contents of the data table below into a spreadsheet.)
Adam's salary
$44,800 Utilities
S3,220
Arin's salary
30,400 Groceries
2,150
Interest received
460 Medical
1,470
Dividends received
120 Property taxes
1,657
Auto insurance
560
Income tax, Social Security
13,500
Home insurance
780 Clothing and accessories
2,020
Auto loan payment
3,260 Gas and auto repair
2,080
Mortgage payment
14,500 Entertainment
2,040
Print
Done

Transcribed Image Text:Income statement preparation Adam and Arin Adams have collected their personal income and expense information and have asked you to put together an income and expense statement for the year. The following
information is received from the Adams family E
a. Create a personal income and expense statement for the Adams family. It should be similar to a corporate income statement.
b. Did the Adams family have a cash surplus or cash deficit?
c. If the result is a surplus, how can the Adams family use that surplus?
a. Create a personal income and expense statement for the Adams family. It should be similar to a corporate income statement.
Complete the income part of the personal income and expense statement: (Round to the nearest dollar.)
Personal Income and Expense Statement
Period Ended December 31, 2021
Income
Adam's salary
$
Arin's salary
Interest received
Dividends received
Total Income
Complete the expenses part of the personal income and expense statement: (Round to the nearest dollar.)
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