Marcel Yang is a young college graduate who did not take a planning course. personal finance. Now her finances are a problem. She has come to you so that you prepare her basic personal financial statements. Marcel Yang has provided you with the following information: Prepare Income and Balance Sheet Info: Take-Home Pay=4,100 Visa Monthly Payment=255 Stocks=2,700 Money Market Acct=500 Apple Card Monthly Payment=440 Mortgage Monthly Payment=525 Phone=80 Cable=65 Mutual Funds=1,800 IRA=2500 Car Monthly Payment=320 Electricity Payment=125 Water Payment=50 Savings Acct=1,000 Check Acct Balance=850 Car Insurance Monthly=425 Apartment Value=90,000 Food (Monthly)=725 Car Value=7000 Furniture Value=2000 Comics Collection=500 Mortgage=85000 Balance Auto Loan=4500 Other property=800 other Monthly expenses=150 Apple Card Balance=5000 Visa Card Balance=3500 Macys Card Balance=1500 Macys Card Monthly Payment=100 Life Insurance Value=50000
Marcel Yang is a young college graduate who did not take a planning course. personal finance. Now her finances are a problem. She has come to you so that you prepare her basic personal financial statements. Marcel Yang has provided you with the following information: Prepare Income and Balance Sheet Info: Take-Home Pay=4,100 Visa Monthly Payment=255 Stocks=2,700 Money Market Acct=500 Apple Card Monthly Payment=440 Mortgage Monthly Payment=525 Phone=80 Cable=65 Mutual Funds=1,800 IRA=2500 Car Monthly Payment=320 Electricity Payment=125 Water Payment=50 Savings Acct=1,000 Check Acct Balance=850 Car Insurance Monthly=425 Apartment Value=90,000 Food (Monthly)=725 Car Value=7000 Furniture Value=2000 Comics Collection=500 Mortgage=85000 Balance Auto Loan=4500 Other property=800 other Monthly expenses=150 Apple Card Balance=5000 Visa Card Balance=3500 Macys Card Balance=1500 Macys Card Monthly Payment=100 Life Insurance Value=50000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Marcel Yang is a young college graduate who did not take a planning course. personal finance . Now her finances are a problem. She has come to you so that you prepare her basic personal financial statements. Marcel Yang has provided you with the following information:
Prepare Income and Balance Sheet
Info:
Take-Home Pay=4,100
Visa Monthly Payment=255
Stocks=2,700
Money Market Acct=500
Apple Card Monthly Payment=440
Mortgage Monthly Payment=525
Phone=80
Cable=65
Mutual Funds=1,800
IRA=2500
Car Monthly Payment=320
Electricity Payment=125
Water Payment=50
Savings Acct=1,000
Check Acct Balance=850
Car Insurance Monthly=425
Apartment Value=90,000
Food (Monthly)=725
Car Value=7000
Furniture Value=2000
Comics Collection=500
Mortgage=85000
Balance Auto Loan=4500
Other property=800
other Monthly expenses=150
Apple Card Balance=5000
Visa Card Balance=3500
Macys Card Balance=1500
Macys Card Monthly Payment=100
Life Insurance Value=50000
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