Create Balance Sheet

Use the following to create a balance sheet (excel template provided below)

• You have $250 in your checking account.
• You have $2,050 in your savings account.
• You purchased an iPad last summer and it is valued at $500.
• You bought a graduation ring and it is valued at $250.
• You purchased new furniture for your apartment. It is valued at $2,200 but you still owe $650.
• Your car is valued at $15,000 but you still owe $8,500.
• You owe $800 on a credit card.
• You just opened a Roth IRA and have put $1,250.
• You participate in your employers 401k program. You have saved $5,000 so far.
• You needed a root canal procedure at your dentist office. You owe $400.
• You just cashed your income tax refund check of $1,000.
• You purchased a new TV that is valued at $820.
• You have $85 in cash.
• You have a student loan balance of $23,000.
• You purchase a condo for $60,000 and you owe $45,000 on the mortgage.
• You and your best friend move into your new condo. They just paid you $450 cash for monthly rent and utilities.

Balance Sheet Template.xlsx

For the balance sheet, fill in the assets and liabilities based on the facts given in the assignment. Only fill in the grey boxes. The formulas should add up all of the assets and liabilities. Create a formula to calculate ne worth