Question: Hi, i need help to answer the attached. BFIN 255 1255 Net Worth Assignment 20 Marksi 5% of Grade In Chapter 2, we had been

Hi, i need help to answer the attached.

Hi, i need help to answer the attached. BFIN 255Hi, i need help to answer the attached. BFIN 255
BFIN 255 1255 Net Worth Assignment 20 Marksi 5% of Grade In Chapter 2, we had been exploring the concept of money management and measuring nancial sustainability. In this assignment, you can apply some of that information to assist a client. You are the nancial advisor to one of your clients, a single, 50-something owner of a trucking i shipping company here in Calgary. Her trucking company is very protable, and the salary she pays herself has averaged $ 210,000 in each of the last ten years. Please examine the following information of your client: Cheguing account balance $ 1,105 Saving account balance 800 House 1 ,900,000| Income taxes owed to government 45,000 Household effects and personal items 160,500 Automobiles (car, pickup truck, motorcycles) 115,000 Tax-free savings account 2,300 Visa card balance 2,100 Master card balance 545 Utility bills (gas, electricity, cable, etc.) 470 Mortgage 0 Question 1 Calculate the client's net worth, by preparing a balance sheet in a way that is similar to what appears in PowerPoint 15 in Chapter 2, and also similar to the example that was included in your Case Study. (4 marks} Question 2 Based on the net worth number that you calculated for the client, tell us what kind of financial position would you consider her to be in: strong, weak, average, and explain why you have that opinion. (8 marks) Question 3 Do you think your client's financial position should be different from what it appears to be, on paper, as far as her net worth is involved? Are there any things about the client's net worth that do not seem to be consistent with other clients that you have, who make similar amounts of money, but have a much higher net worth? You should have a number of questions that you would like to explore with your client, so that you might be in a position to provide her with some financial or life-situation advice. (8 marks)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!