a)
Increase + |
CASH |
Decrease - |
|
Opening Balance |
$3000 |
Utilities |
$1200 |
Monthly salary |
$5050 |
Food Expenses |
$600 |
Gas Expenses |
$400 |
||
Closing Balance |
$5850 |
||
TOTAL |
$8050 |
TOTAL |
$8050 |
b)
Personal income statement for the month ended May 31, 2016
Particulars |
Amount ($) |
Amount ($) |
Monthly salary |
$5050 |
|
Less: |
||
Utilities |
$1200 |
|
Food Expenses |
$600 |
|
Gas Expenses |
$400 |
|
Surplus |
$2850 |
c)
Calculation of Juliet Lahm’s net worth on May 31:
Particulars |
Amount ($) |
Opening Net worth |
$115000 |
Add: |
|
Surplus |
$2850 |
Fixed asset - Automobile |
$10000 |
Less: |
|
Accounts Payable |
$10000 |
Closing Net worth as on May 31 |
$117850 |
Please check the image thoroughly and answer the question. CASH, 3,000 Tae1lery 튀 2,000 , Mortgaje...