Ms Yvette Bordeaux has asked you to prepare specified personal financial statements on her behalf. Yvette...

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Ms Yvette Bordeaux has asked you to prepare specifiedpersonal financial statements on her behalf. Yvette is a 33year-old employed landscape gardener and has a gross income of$55,000 for the 2018 financial year. In addition, Yvette’s employeralso contributes 9.25% of her gross income into a personalsuperannuation fund that you have set up to fund her retirement.Fortnightly salary deductions (based on gross income) for Yvetteare as follows:
           Details                                              Percentage
           Taxation                                                         20
           Personal supercontributions                       7
           Healthcover                                                   3
           Unionfees                                                      2
Other expenditures incurred by Yvette for the 2018financial year are as follows:
Details                                               Amount($)
Householdexpenses                            10,000
Mortgage loan repayments                12,000
Credit cardrepayments                          8,000
Entertainmentexpenses                         5,000
Yvette has also provided a list of her assets andliabilities based on the information that she currently hasavailable as shown below:
Details                                               Amount($)
Assets -
House                                                           400,000
Personaleffects                                            15,000
Superannuation                                            160,000
Car                                                                   10,000
Savingsaccount                                               2,000
Liabilities -
Mortgageloan                                                 250,000
Credit cardbalance                                         10,000
(a)       Prepare apersonal cash flow budget for Yvette for the 2018 financial yearbased on the information provided.
(b)       Prepare acurrent personal balance sheet for Yvette based on the informationprovided.

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4.1 Ratings (561 Votes)

a Yvettes cash flow budget for the 2018 financial year Opening Balance 2000 Net Pay 37400 Less Household Expense 10000 LessMortgage loan repayments 12000 Less Credit Card Repayments 8000 Less Entertainment Expense 5000 Cash See Answer

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Ms Yvette Bordeaux has asked you to prepare specifiedpersonal financial statements on her behalf. Yvette is a 33year-old employed landscape gardener and has a gross income of$55,000 for the 2018 financial year. In addition, Yvette’s employeralso contributes 9.25% of her gross income into a personalsuperannuation fund that you have set up to fund her retirement.Fortnightly salary deductions (based on gross income) for Yvetteare as follows: Details Percentage Taxation 20 Personal supercontributions 7 Healthcover 3 Unionfees 2Other expenditures incurred by Yvette for the 2018financial year are as follows:Details Amount($) Householdexpenses 10,000Mortgage loan repayments 12,000Credit cardrepayments 8,000Entertainmentexpenses 5,000Yvette has also provided a list of her assets andliabilities based on the information that she currently hasavailable as shown below:Details Amount($) Assets -House 400,000Personaleffects 15,000Superannuation 160,000Car 10,000Savingsaccount 2,000Liabilities -Mortgageloan 250,000Credit cardbalance 10,000(a) Prepare apersonal cash flow budget for Yvette for the 2018 financial yearbased on the information provided.(b) Prepare acurrent personal balance sheet for Yvette based on the informationprovided.