Use the information below to prepare a balance sheet and a, Ask an Expert

Finance

Use the information below to prepare a balance sheet and a cash flow statement forMr. King. Calculate his net worth and cash surplus or deficit. (All expenses are on monthly basis).

Monthly take-home salary from full time job, $4,230

Value of house, $325,000

Value of furniture and house content,$115,000

Home maintenance and repairs, $120

Cash in chequing account, $750

Savings account balance, $4,300

Spending on grocery, $600

Restaurant spending, $150

Lunch & parking, $200

Mortgage outstanding, $185,000

Electronic gadgets $4,500

Average monthly phone bill, $85

Monthly payment on credit card, $150

Value of 2 cars $43,520

Car loans outstanding, $21,300

Monthly Home and Auto insurance, $380

Monthly payment on car loan, $225

Average monthly income from part-timejob, $ 440

Monthly Mortgage and property taxpayment, $ 2,400

Value of car, $28,000

Gas and car maintenance, $240

Credit card balance, $8,200

Average monthly Electricity bill, $375

Monthly charitable donation, $350

Clothing purchase (monthly), $150

Value of Stock investment, $140,000

Monthly Entertainment, $250

Miscellaneous expenses $200

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91575016

Have any Question?Write your Review or question?

Related Questions in Basic Finance

Question - the cost of raising capital through retained

Question - The cost of raising capital through retained earnings is the cost of raising capital through issuing new common stock. The current risk-free rate of return is 4.2%. The market risk premium is 6.1%. D'Amico Co. ...

Question - river enterprises has 500 million in debt and 20

Question - River Enterprises has $500 million in debt and 20 million shares of equity outstanding. Its excess cash reserves are $15 million. They are expected to generate $200 million in free cash flows next year with a ...

As the financial controller for kl incorporated a highly

As the financial controller for KL Incorporated, a highly diversified conglomerate, you are considering the alternative financing plans for the next millennium. Due to the good relationship with the banks, your firm is a ...

Consider the following scenario analysisrate of

Consider the following scenario analysis: Rate of Return Scenario Probability Stocks Bonds Recession 0.20 -4% 16% Normal economy 0.50 18 9 Boom 0.30 29 6 a. Is it reasonable to assume that Treasury bonds will provid ...

What is interest rate parity the international fisher

What is Interest Rate Parity, the International Fisher Effect, and international arbitrage opportunities with interest and currency exchange rates.

If you pay 55 for a share of common stock that has a

If you pay $55 for a share of common stock that has a constant growth rate of 6% and it is expected to pay a dividend of $1.25 what would be your return (hint: solve for kc and be careful about the dividend - it has alre ...

Discuss the project factors listed in the chaos study of

Discuss the project factors listed in the CHAOS Study of information technology project management

1 brandon has partial amnesia and forgot how much he

1.) Brandon has partial amnesia and forgot how much he borrowed. He does remember that he borrowed the money 21 months ago and that the interest rate was 5% per annum. The last letter from the bank simply stated he owed ...

Suppose you are going to receive 14100 per year for six

Suppose you are going to receive $14,100 per year for six years. The appropriate interest rate is 6.9 percent. a. What is the present value of the payments if they are in the form of an ordinary annuity? (Do not round i ...

How does a firm navigate strategic management in the

How does a firm navigate strategic management in the context of an international environment? What complications does an international environment provide? What are the benefits of operating in an international environme ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Basic Finance Expert