LG3-Understand how financial statements & ratios and basic tax fundamentals impact the financial planning process *For...

 

 

Transcribed Image Text:

LG3-Understand how financial statements & ratios and basic tax fundamentals impact the financial planning process *For items that go on the 1&E Statement, amount is annual. Alex Age Alex Age 31 Salary $ Mortgage Payment $ Money Market Account $ Mutual Fund $ 35,000.00 14,400.00 1,500.00 750.00 House $ 145,000.00 Furniture $ 4,000.00 Mortgage Balance $ 138,000.00 Roth IRA $ 2,700.00 Credit Card Payment $ 600.00 Entertainment $ 900.00 Checking Account $ Car Payment $ 600.00 5,100.00 Consulting Pay S Car Loan Balance $ 1,500.00 3,500.00 Groceries $ 1,800.00 Fuel $ 960.00 Car $ 8,000.00 9,000.00 Employer Plan $ Student Loan Payment $ Other (Jewelry)S 4,500.00 500.00 Credit Card Balance $ 1,000.00 Annual Savings $ 950.00 Savings Account $ 3,000.00 Past-Due Bill $ 350.00 Student Loan Balance $ 20,000.00 Insurance Payment $ 1,140.00 Utilities $ 1,200.00 LG3-Understand how financial statements & ratios and basic tax fundamentals impact the financial planning process *For items that go on the 1&E Statement, amount is annual. Alex Age Alex Age 31 Salary $ Mortgage Payment $ Money Market Account $ Mutual Fund $ 35,000.00 14,400.00 1,500.00 750.00 House $ 145,000.00 Furniture $ 4,000.00 Mortgage Balance $ 138,000.00 Roth IRA $ 2,700.00 Credit Card Payment $ 600.00 Entertainment $ 900.00 Checking Account $ Car Payment $ 600.00 5,100.00 Consulting Pay S Car Loan Balance $ 1,500.00 3,500.00 Groceries $ 1,800.00 Fuel $ 960.00 Car $ 8,000.00 9,000.00 Employer Plan $ Student Loan Payment $ Other (Jewelry)S 4,500.00 500.00 Credit Card Balance $ 1,000.00 Annual Savings $ 950.00 Savings Account $ 3,000.00 Past-Due Bill $ 350.00 Student Loan Balance $ 20,000.00 Insurance Payment $ 1,140.00 Utilities $ 1,200.00

Answer rating: 100% (QA)

Balance sheetPersonal Assets Liabilities and net worth Monetary Short t... View the full answer