Calculate the Month's Living Expenses Covered Ratio based on the information below (show all work for credit).
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Calculate the Month's Living Expenses Covered Ratio based on the information below (show all work for credit).
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A. Total Income B. Total Income Taxes C. After-Tax Income Available for Living Expenditures or Take-Home Pay (line A minus line B) D. Total Housing Expenditures E. Total Food Expenditures F. Total Clothing and Personal Care Expenditures G. Total Transportation Expenditures H. Total Recreation Expenditures I. Total Medical Expenditures J. Total Insurance Expenditures K. Total Other Expenditures L. Total Living Expenditures (add lines D-K) M. Income Available for Savings and Investment + Royalties, Commissions and Rents + Other Income Taxes Federal Income and Social Security State Income Living Expenses Housing Rent + Mortgage Payments - Utilities Maintenance, Taxes, Furniture, Other Food Food and Supplies + Restaurant Expenses Clothing and Personal Care Transportation Automobile Purchase + Payments + Gas, Tolls, Parking, Other Recreation + Vacations + Other Recreation Expenses Medical Expenditures Insurance Expenditures Health + Life + Automobile + Disability Other Expenditures Educational Expenditures (college loan payment) Child Care + Other Expenses $59,000 $7,880 $51,120 $17,000 $7,200 $2,590 $6,350 $3,700 $410 $1,940 $3,780 $42,970 $8,150 $6,000 $1,880 $12,000 $5,000 $5,800 $1,400 $2,590 $4,800 $1,550 $2,000 $1,700 $410 $420 $1,260 $260 $3,600 $180 $42,970 A. Total Income B. Total Income Taxes C. After-Tax Income Available for Living Expenditures or Take-Home Pay (line A minus line B) D. Total Housing Expenditures E. Total Food Expenditures F. Total Clothing and Personal Care Expenditures G. Total Transportation Expenditures H. Total Recreation Expenditures I. Total Medical Expenditures J. Total Insurance Expenditures K. Total Other Expenditures L. Total Living Expenditures (add lines D-K) M. Income Available for Savings and Investment + Royalties, Commissions and Rents + Other Income Taxes Federal Income and Social Security State Income Living Expenses Housing Rent + Mortgage Payments - Utilities Maintenance, Taxes, Furniture, Other Food Food and Supplies + Restaurant Expenses Clothing and Personal Care Transportation Automobile Purchase + Payments + Gas, Tolls, Parking, Other Recreation + Vacations + Other Recreation Expenses Medical Expenditures Insurance Expenditures Health + Life + Automobile + Disability Other Expenditures Educational Expenditures (college loan payment) Child Care + Other Expenses $59,000 $7,880 $51,120 $17,000 $7,200 $2,590 $6,350 $3,700 $410 $1,940 $3,780 $42,970 $8,150 $6,000 $1,880 $12,000 $5,000 $5,800 $1,400 $2,590 $4,800 $1,550 $2,000 $1,700 $410 $420 $1,260 $260 $3,600 $180 $42,970
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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