Using the expenditures method, label each of the following as a source (S), application (A)

1)A suspect sold stock with a basis of $5,000.

2)A suspect paid Federal income taxes of $2,400.

3)A suspect purchased a new automobile for $4,500.

4)A suspect borrowed $5,800 for the purchase of an automobile.

5)A suspect purchased a thoroughbred racehorse for $300,000.

6)A suspect loaned his sister $5,000.

7)A suspect sold a fishing boat with motor and trailer for $30,000.

Please explain so I know how to complete the rest of my assignment. Is expenditure a form of keeping track of a persons financial spending?

Answer rating: 100% (QA)

Heres how you can categorize each transaction using the expeditures method A suspect ... View the full answer