Question

Jamie Lee Jackson, age 24, now a busy full-time college student and part-time bakery clerk, has been trying to organize all o
For month anding 31-Dec Cash Inflows Salary (take-home) Other income Other Income Total Cash Outflows Fixed expenses Mortgage
Variable expenses Food Clothing Electricity Telephone Water Transportation Personal care Medical expenses Recreation/entertai
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Answer #1
Cash inflows:
Salary (take home) $1,970
Other income- Regular savings $190
Other income- Rainy day savings $35
Total $2,195
Cash outflows:
Fixed expense
Mortgage or rent $315
Loan/Credit card payment $90
Insurance $90
Other
Total fixed outflows $495
Variable expense
Food $200
Clothing $90
Electricity $120
Telephone $100
Water $85
Gas/maintenace $140
Recreation/entertainment ($70+$90) $160
Total variable outflow $895
Total outflow $1,390
Surplus (Deficit) $805
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