Use the table below to complete questions . 1) Based on information in the table calculate Michaels'
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Question:
Use the table below to complete questions .
1) Based on information in the table calculate Michaels' net worth.(show all work)
2) Based on information in the table calculate Michaels’ monthly surplus or deficit. (show all work)
Monthly salary | $2,800 |
Monthly rent payments | $850 |
Savings account balance | $2,000 |
Monthly auto loan payment | $425 |
Money market investment account balance | $5,000 |
Monthly income from side business on eBay | $900 |
Weekly grocery expense | $50 |
Value of autos | $12,000 |
Balance of student loans | $8,000 |
Monthly student loan payment | $245 |
Monthly utilities expense | $150 |
Bi-annual insurance premium | $450 |
Balance of auto loans | $8,600 |
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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