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Jennifer Pontesso, from Lincoln, Nebraska, wants to better understand her financial situation. Use the following balance sheet and cash flow

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Jennifer Pontesso, from Lincoln, Nebraska, wants to better understand her financial situation. Use the following balance sheet and cash flow statement information to determine her net worth and her net surplus for a recent month. Liquid assets: $9,000; home value: $230,000; monthly mortgage payment: $1,450 on $150,000 mortgage; investment assets: $80,000; personal property: $16,000; total assets: $335,000; short-term debt: $3,360 ($280 a month); total debt: $153,360; monthly gross income: $14,000; monthly disposable income: $6,000; monthly expenses: $5,000. Round your answers to the nearest dollar.
Net worth: $
Net surplus: $
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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Personal Finance

Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Question Posted: March 21, 2018 04:47:47
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