Table 3-3 INCOME Victor's gross salary Maria's gross salary Interest and dividends Bonus Cash Flow Statement for a Couple with Two Children-Victor and Maria Hernandez, January 1-December 31, 2018 Dollars 53,000 32,000 1,800 1,000 Percent 55.4% 33 4% 1.9% 1.0%

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Cash Flow Statement Use table 3.3 on page 86 as a guide to create a monthly cash flow statement
Table 3-3
INCOME
Victor's gross salary
Maria's gross salary
Interest and dividends
Bonus
Tax refunds
Net rental income
Total Income
EXPENDITURES
Fixed Expenses
Mortgage loan payments
Real estate taxes
Homeowner's insurance
Automobile loan payments
Automobile insurance and registration
Life insurance premiums
Medical insurance (employee portion)
Emergency fund savings
Revolving savings fund
Federal income taxes
State income taxes
City income taxes
Social Security taxes
Personal property taxes
Retirement IRAS
Total Fixed Expenses
Variable Expenses
Food
Utilities
Gasoline and maintenance
Medical expenses
Medicines
Cash Flow Statement for a Couple with Two Children-Victor and Maria
Hernandez, January 1-December 31, 2018
Clothing and upkeep
Church
Gifts
Personal allowances
Children's allowances
Miscellaneous
Total Variable Expenses
Total Expenses
SURPLUS (DEFICIT)
Dollars
53,000
32,000
1,800
1,000
200
7,720
95,720
14,400
4,800
1,200
6,000
2,100
1,200
2,800
2,400
1,800
10,000
2,600
600
6,500
1,020
6,000
$63,420
7,000
3,600
4,200
3,400
1,750
1,950
2,400
1,400
3,000
3,200
400
$32,300
$95,720
S0
Percent
55.4%
33.4%
1.9%
1.0%
0.2%
8.1%
100.0%
15.0%
5.0%
1.3%
6.3%
2.2%
1.3%
2.9%
2.5%
1.9%
10.4%
2.7%
0.6%
6.8%
1.1%
6.3%
66.3%
7.3%
3.8%
4.4%
3.6%
1.8%
2.0%
2.5%
1.5%
3.1%
3.3%
0.4%
33.7%
100.0%
0.0%
Transcribed Image Text:Table 3-3 INCOME Victor's gross salary Maria's gross salary Interest and dividends Bonus Tax refunds Net rental income Total Income EXPENDITURES Fixed Expenses Mortgage loan payments Real estate taxes Homeowner's insurance Automobile loan payments Automobile insurance and registration Life insurance premiums Medical insurance (employee portion) Emergency fund savings Revolving savings fund Federal income taxes State income taxes City income taxes Social Security taxes Personal property taxes Retirement IRAS Total Fixed Expenses Variable Expenses Food Utilities Gasoline and maintenance Medical expenses Medicines Cash Flow Statement for a Couple with Two Children-Victor and Maria Hernandez, January 1-December 31, 2018 Clothing and upkeep Church Gifts Personal allowances Children's allowances Miscellaneous Total Variable Expenses Total Expenses SURPLUS (DEFICIT) Dollars 53,000 32,000 1,800 1,000 200 7,720 95,720 14,400 4,800 1,200 6,000 2,100 1,200 2,800 2,400 1,800 10,000 2,600 600 6,500 1,020 6,000 $63,420 7,000 3,600 4,200 3,400 1,750 1,950 2,400 1,400 3,000 3,200 400 $32,300 $95,720 S0 Percent 55.4% 33.4% 1.9% 1.0% 0.2% 8.1% 100.0% 15.0% 5.0% 1.3% 6.3% 2.2% 1.3% 2.9% 2.5% 1.9% 10.4% 2.7% 0.6% 6.8% 1.1% 6.3% 66.3% 7.3% 3.8% 4.4% 3.6% 1.8% 2.0% 2.5% 1.5% 3.1% 3.3% 0.4% 33.7% 100.0% 0.0%
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