Rent for the monthMonthly take-home salaryCash in chequing accountSavings account balanceSpending for foodBalance of educational loanCurrent value of automobileTelephone bill paid for monthCredit card balanceLoan payment$ 1,410 Auto insurance3,740 Household possessions650 Stereo equipment2,860 Payment for electricity1040 Lunches/parking at work2,320 Donations7,960 Home computer70 Value of stock investment265 Clothing purchase98 Restaurant spending$3223,9403,110972381132,3301170141211 Use the following items to prepare a balance sheet and a cash flow statement.Determine the total assets, total liabilities, net worth, total cash inflows, and total cashoutflows. (Omit the "$" sign in your response.)Rent for the monthMonthly take-home salaryCash in chequing accountSavings account balanceSpending for foodBalance of educational loanCurrent value of automobileTelephone bill paid for monthCredit card balanceLoan paymentpicture Click here for the Excel Data FileTotal assetsTotal liabilitiesNet worthTotal cash inflowsTotal cash outflows$$$$ 1,4103,7406502,8601,0402,3207,9607026598Auto insuranceHousehold possessionsStereo equipmentPayment for electricityLunches/parking at workDonationsHome computerValue of stock investmentClothing purchaseRestaurant spending

Balance sheet means:- Balance sheet is one of the most important financial statements, that lists…

Monthly take-home salary Cash in chequing account Savings account balance Spending for food Balance of educational loan 3,740 Household possessions 650 Stereo equipment 2,860 Payment for electricity 1040 Lunches/parking at work 2,320 Donations ✓

Monthly take-home salary Cash in chequing account Savings account balance Spending for food Balance of educational loan 3,740 Household possessions 650 Stereo equipment 2,860 Payment for electricity 1040 Lunches/parking at work 2,320 Donations ✓

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter8: Internal Control And Cash

Section: Chapter Questions

Problem 5PEB

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Question

Rent for the month
Monthly take-home salary
Cash in chequing account
Savings account balance
Spending for food
Balance of educational loan
Current value of automobile
Telephone bill paid for month
Credit card balance
Loan payment
$ 1,410 Auto insurance
3,740 Household possessions
650 Stereo equipment
2,860 Payment for electricity
1040 Lunches/parking at work
2,320 Donations
7,960 Home computer
70 Value of stock investment
265 Clothing purchase
98 Restaurant spending
$
322
3,940
3,110
97
238
113
2,330
1170
141
211

Use the following items to prepare a balance sheet and a cash flow statement.
Determine the total assets, total liabilities, net worth, total cash inflows, and total cash
outflows. (Omit the "$" sign in your response.)
Rent for the month
Monthly take-home salary
Cash in chequing account
Savings account balance
Spending for food
Balance of educational loan
Current value of automobile
Telephone bill paid for month
Credit card balance
Loan payment
picture Click here for the Excel Data File
Total assets
Total liabilities
Net worth
Total cash inflows
Total cash outflows
$
$
$
$ 1,410
3,740
650
2,860
1,040
2,320
7,960
70
265
98
Auto insurance
Household possessions
Stereo equipment
Payment for electricity
Lunches/parking at work
Donations
Home computer
Value of stock investment
Clothing purchase
Restaurant spending

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Step 1: Introduction Of Balance Sheet :

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Step 2: Total Asset :-

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Step 3: Total Liabilities :

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Step 4: Net Worth -

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Step 5: Total Cash Inflows-

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