Question: Please fill out the second chart below. Household earns a salary paid in a checking account (value=100). Household makes consumption expenses (value=80). Household buys a

Please fill out the second chart below.

Household earns a salary paid in a checking account (value=100). Household makes consumption expenses (value=80).

Household buys a property (value=15,000) with a down payment of 10,000 and a loan of 5,000.

Please fill out the second chart below. Household earns a salary paid

Show this households income statement and the net financial position of the household. Assume: zero depreciation of the property purchased.

in a checking account (value=100). Household makes consumption expenses (value=80). Household buys

Debit Credit 100 Entry Salary Deposits Consumption Expenses Deposits 100 80 80 Loan 5,000 5,000 Deposits Property Deposits 15,000 15,000 USES SOURCES ITEM (DEBITS) (CREDITS) 1 Receipts (Sources) 2 Current expenditures (Uses) 3 'Saving' (Source) 4 Capital expenditures (Uses) 5 Net financial position (Source) 6 Borrowing and debt repayment 7 Purchase and sale of financial assets 8 Change in deposits 9 Net balance of financial flows (Use)

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