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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 | ||
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| Total assets | $ |
| Total liabilities | $ |
| Net worth | $ |
| Total cash inflows | $ |
| Total cash outflows | $ |
ScholarMatic: Explanation & Answer
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