Set up a Cash Flow Statement from the information below to determine Net Cash Flow: Cash in
Question:
Set up a Cash Flow Statement from the information below to determine Net Cash Flow:
Cash in the bank 5,000; total credit card balance 10,000; gross wages 72,000; retirement account 150,000; car loan balance 12,000; payroll deductions 12,000; market value of 2020 Honda Accord 20,000; boat loan balance 5,000; house interest annualized 5,000; market value of a ski boat 10,000; food expense annualized 6,000; clothing expense annualized 2,000; cell phone expense annualized 1,800; internet and cable expense annualized 1,800; mortgage balance 100,000; entertainment and travel expense 3,000; credit card interest 1,500; car loan interest 6,000; market value of home 250,000; boat loan interest 500; annual payment on credit cards 3,000; annual payment on car 4,800; annual payment on boat 3,000; annual mortgage payment 18,000.
What is the amount of Net Cash Flow?
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill