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Juan and Maria Gomez have been married for over 10 years. They both have good jobs with consistent Incomes, and they are good savers. They belleve that their financial picture is good, but they have never prepared a balance sheet. Juan and Maria pulled together the following items from bank statements, pay stubs, and bills. Check the items that would appear on a balance sheet. Do not be concerned about whether the amounts are correct. Check all that apply. IRA Investments $ 6,375 AAA Bank mutual fund 5,355 Auto: 2010 Suburban (cost) 27,600 Auto: 2007 Honda Pilot (cost) 24,000 Auto loan balance (last payment) 844 Bonds 10,200 City Bank-checking 30,000 City Bank savings 37,500 Cash 250 Juan's salary 45,000 Balance due on American Express credit card 1,519 Unpaid electric bill $ 394 Life Insurance (cash value) 5,100 Balance due on Master Card 731 Balance due on Visa credit card 169 Primary home 300,000 Primary home mortgage 250,000 Unpaid property taxes 2,250 Maria's diamond earrings 6,000 Stocks 12,750 Unpaid telephone bill 169 Amount pald last month for telephone 500 In addition, the Gomez's provided the following information: . Based on comparable homes listed for sale in their neighborhood, the Gomez's believe that their home value is about 8% more than what they paid for it. The principal portion of their mortgage payments is approximately $833 per month A reliable jeweler said that Maria's diamond earrings could be sold at the value provided. After looking at Kelley Blue Book, they believe their cars can be sold for about 55% of original cost. . Use this information to fill in the missing amounts on Juan and Maria's balance sheet. You can use what you checked above to make sure you accounted for everything. Note: Some amounts are given to check your work. Round your percent to the one decimal place. Balance Sheet Name: Juan and Maria Gomez Date: December 31, 2017 Dollars Percent ASSETS Monetary Assets Cash on hand 250 % 37,500 % Savings account Checking account 30,000 % $ 67,750 % Total monetary assets Tangible Assets Home % Automobiles % 6,000 % Personal property Total tangible assets $ % Investment Assets Mutual funds 5,355 % Stocks 12,750 % Bonds 10,200 % Life insurance cash value 5,100 % IRAS 6,375 % Total investment assets $ 39,780 % (1) Total Assets $ 100.0% LIABILITIES Short-Term Liabilities Current portion of mortgage % Credit card debt % Property taxes % Auto loan 844 % Electric bill 394 % Telephone bill 169 % Total short-term liabilities $ % Long-Term Liabilities Long-term portion of mortgage Total long-term liabilities % tA % (2) Total Liabilities TA $ % Net Worth (1) - (2) - $ % Total Liabilities and Net Worth A 100.0%

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