Question

Deon and Keyshia wallace have been married for two years. They have been trying to save but feel that there is never anything leftover after expenses. Keyshia is taking a night course on personal finance, and she suggested that they prepare a cash-flow statement for the year ended December 31, 2016. Use the worksheet that Deon and Keyshia provided plus the additional information to fill in the missing amounts on the Wallace's cash-flow statement for the year ended December 31, 2016. Cash-Flow Statement Deon and Keyshia put together the following worksheet. Name: Deon and Keyshia wallace Date: For the year ended December 31, 2016 Cash received & income taxes: Deon's salary Keyshia's salary Deon's bonus P&G dividend Cash payments: $26,250 Rent $1,300 113 900 410 14 Auto insurance (year) 225 150 71 Dollars Percent 24,938 School Loan INCOME Deon's salary Keyshia's salary Deon's Bonus Interest and dividends Total Income Train pass (year) Car loan payment 3,938 17 Savings interest Income taxes: Maine Power 4,725 AT&T 4,489 EXPENDITURES Fixed Expenses Rent expense Deon's income taxes Keyshia's income taxes Automobile loan payment Education loan Phone Transportation Automobile insurance and registration Lof $35 per visit. They estimated that they saw the doctor (combined) Total fixed expenses Here is some additional information: For income items, they know yearly amounts. For some expenses, they know the annual amount (for example, Keyshia's annual commuter-train pass). They listed those amounts and noted them as such Unfortunately, for other expenses, they provided the payment they hem as □ □D ] [ made last month, stating that the amount doesn't change much from ]1 month to month . Based on their employer-provided health insurance, they incur a copay seven times during the year. Deon estimated that he spends about $60 a week on gas and maintenance for their two cars, and he takes out $100 for spending money every week. Keyshia estimated that she spends about $100 a week on groceries and $175 a month on clothing. She never has cash and uses her credit cards for everything They went on a Princess Cruise that cost $2,200; they took an additional $500 for spending. That was their only vacation . Variable Expenses Food Utilities Gasoline and maintenance Vacations clothing Miscellaneous (Deon's withdrawals Medical expenses Total variable expenses Total Expenses SURPLUS (DEFICIT) . .

Answer 1

Below attached is the image with all the calculations done the monthly expenses are multiplied by 12 and weekly expenses are multiplied by 52.