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- In the process of using the net worth method, ou find that the reported taxable income of a person is $92,000 and overall personal expenes are $61,000. The net worth you calculate through various records at year end is $611,000 while the net worth amount at the beginning of the year is $430,000. Any unexplained net worth increase or decrease would be?Construct a personal income statement for the Humperdinck family usingthe following information: salaries, $42,000; mortgage payment, $7,980;food, $2,400; interest income, $150; transportation, $1,200; dividend income, $190; automobile payment, $3,060; clothes and personal, $2,000;student loan payment, $1,700; property taxes, $1,100; utilities, $3,000;insurance, $2,100; income taxes, $9,700; and recreation and vacation,$2,000. What is the family’s disposable income?What her net income for this accounting question?
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