Ariana and Nicholas Peterson are about to construct their income and expense statement for the year ending
Question:
Ariana and Nicholas Peterson are about to construct their income and expense statement for the year ending December 31, 2020. They have put together the following income and expense information for 2020:
Using the information provided, prepare an income and expense statement for the Petersons for the year ending December 31, 2020. Enter all expense amounts as positive values.
Transcribed Image Text:
Ariana's salary Reimbursement for travel expenses Interest on: Savings account Bonds of Delta Corporation 70 Groceries Rent | Utilities 1,950 110 Purchase of a used car (cost) Outstanding loan balance on car Purchase of bonds in Delta Corporation 4,150 9,600 Gas and auto expenses Nicholas' tuition, books, and supplies Books, magazines, and periodicals Clothing and other miscellaneous expenses 2,700 Cost of photographic equipment $47,000 960 650 purchased with charge card 2,200 Amount paid to date on photographic equipment 1,600 Ariana's travel expenses 1,950 9,750 3,300 280 7,300 4,900
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Related Book For
Personal Financial Planning
ISBN: 9780357438480
15th Edition
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
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