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

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Finance

Use the following items to determine the total assets, totalliabilities, net worth, total cash inflows, and total cashoutflows.
Rent for the month $ 1,450 Monthly take-home salary $ 2,985
Spending for food $ 745 Cash in checking account $ 610
Savings account balance $ 2,050 Balance of educational loan $ 3,120
Current value of automobile $ 9,500 Telephone bill paid for month $ 145
Credit card balance $ 315 Loan payment $ 240
Auto insurance $ 390 Household possessions $ 5,000
Video equipment $ 2,750 Payment for electricity $ 170
Lunches/parking at work $ 260 Donations $ 320
Personal computer $ 2,000 Value of stock investment $ 1,260
Clothing purchase $ 190 Restaurant spending $ 210
a. Total assets
b. Total liabilities
c. Net worth
d. Total cash inflows
e. Total cash outflows

Answer & Explanation Solved by verified expert

3.7 Ratings (677 Votes)

A.Total Assets

Assets	Amount
Bank A/c	2,050
Automobile	9,500
Video equipment	2,750
Personel computer	2,000
Cash	610
Household possesion	5,000
Stock investment	1,260


	23,170

B.Total liabilities

Liabilities	Amount
Education loan	3120








	3120

C.Net worth

Total Assets -Total liability

=23,170 - 3120

=20,050

D.CASH INFLOW

SALARY=2,985

E.CASH OUTFLOW

Rent	1,450
Food expenses	745
Auto insurance	390
Lunch	260
Purchase cloths	190
Telephone bill	145
Loan payment	240
Payment of electricity	170
Donation	320
Restaurant spending	210
Total(Cash outflow)	*4,120*

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Transcribed Image Text

Use the following items to determine the total assets, totalliabilities, net worth, total cash inflows, and total cashoutflows.Rent for the month$1,450Monthly take-home salary$2,985Spending for food$745Cash in checking account$610Savings account balance$2,050Balance of educational loan$3,120Current value of automobile$9,500Telephone bill paid for month$145Credit card balance$315Loan payment$240Auto insurance$390Household possessions$5,000Video equipment$2,750Payment for electricity$170Lunches/parking at work$260Donations$320Personal computer$2,000Value of stock investment$1,260Clothing purchase$190Restaurant spending$210a.Total assetsb.Total liabilitiesc.Net worthd.Total cash inflowse.Total cash outflows


Rent for the month	$	1,450	Monthly take-home salary	$	2,985
Spending for food	$	745	Cash in checking account	$	610
Savings account balance	$	2,050	Balance of educational loan	$	3,120
Current value of automobile	$	9,500	Telephone bill paid for month	$	145
Credit card balance	$	315	Loan payment	$	240
Auto insurance	$	390	Household possessions	$	5,000
Video equipment	$	2,750	Payment for electricity	$	170
Lunches/parking at work	$	260	Donations	$	320
Personal computer	$	2,000	Value of stock investment	$	1,260
Clothing purchase	$	190	Restaurant spending	$	210