Question: Prepare a personal balance sheet for Leonard based on the following figures: Wages: full time @$50/hr.; part time (25 hrs/wk) @40/hr. Social Security Tax =

Prepare a personal balance sheet for Leonard based on the following figures:

 

Wages: full time @$50/hr.; part time (25 hrs/wk) @40/hr.

Social Security Tax = 5% of total wages

Clothing = $250/mo.

Mortgage = $800/mo.

Trust Fund Income = $650/mo.

Property Taxes = $4800/yr. Food = $100/wk.

Savings = $365/mo.

Medical expenses = $50/wk.Transportation expenses = $150/wk.

Credit card expenses = $125/wk

Stock Investments 9350

Rental Property 935


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