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Accounting

Use the following items to determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows.


Rent for the month	$	1,240	Auto insurance	$	239
Monthly take-home salary		3,420	Household possessions		3,680
Cash in checking account		700	Stereo equipment		3,240
Savings account balance		2,110	Payment for electricity		110
Spending for food		820	Lunches/parking at work		271
Balance of educational loan		2,930	Donations		169
Current value of automobile		8,590	Home computer		1,870
Telephone bill paid for month		69	Value of stock investment		1,750
Credit card balance		236	Clothing purchase		148
Loan payment		177	Restaurant spending		177


Total assets	$
Total liabilities	$
Net worth	$
Total cash inflows	$
Total cash outflows	$

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9796608

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