Homework Answers
| Assets | |
| House | 117300 |
| Cars | 29236 |
| Furniture | 11181 |
| Total | 157717 |
| Liabilities | |
| Mortgage | 79859 |
| Car loan | 6080 |
| Utility bills payable | 251 |
| Total | 86190 |
Net Worth = Assets - liabilities = $71527
This means that Lee has excess of assets over liabilities/dues to the amount of $71527. The net worth will not change as per data but is expected to increase with increasing age.However we need to check the actual value of assets and liabilities to determine the same.
Add Answer to:
Mike and Mary Jane Lee have a yearly income of $88,383 and own a house worth...
1. Jim and Sally graduated from college in 2018. They have a combined monthly income (after...
1. Jim and Sally graduated from college in 2018. They have a combined monthly income (after taxes) of $8,400. Also, they have $5,500 in their savings account. They own a house worth $183,000, two used cars worth $22,000, jewelry worth $6,000, and furniture worth $4,000. The house has a mortgage of $167,000 and their car loans total $8,000. They have unpaid credit card balances of $3,200. Their monthly expenses are $6,400. Based on this information, please answer the following questions:...
Ledio and Isabel Greene 5.Ledio and Isabel Greene have the following assets, liabilities, income, and expenses....
Ledio and Isabel Greene 5.Ledio and Isabel Greene have the following assets, liabilities, income, and expenses. Use this information to answer the questions that follow: •Yearly income: $99,000 •Value of home: $190,000 •Value of cars: $32,000 •Monetary Assets: $30,000 •Mortgage on house: $150,000 with twenty-four years remaining on the loans •Auto loans: $14,000 with three years remaining on the loans •Student loans: $92,000 with five years remaining on the loans •Mortgage payment: $1,200 •Utilities: $500 •Car payments: $550 •Groceries: $900...
this is all the information given Personal Financial Planning Mini-Case Jeff and Mary Douglas, a couple...
this is all the information given
Personal Financial Planning Mini-Case Jeff and Mary Douglas, a couple in their mid-30s, have two children - Paul age 6 and Marcy age 7. The Douglas' do not have substantial assets and have not yet reached their peak earning years. Jeff is a general manager of a jewelry manufacturer in Providence, RI while Mary teaches at the local elementary school in the town of Tiverton, RI. The family needs both incomes to meet their...
Balance Sheet Data Also prepare a balance sheet for them as of September 1, 2020 assuming...
Balance Sheet Data
Also prepare a balance sheet for them as of September 1, 2020
assuming the following information that Mary has gleaned from bank
and investment account statements, life insurance contracts, a
household inventory, and real estate documents. The biggest asset
they own is their home. They purchased the home a few years ago for
$225,000. The tax assessed value (used to calculate their property
taxes is $250,000. A very recent appraisal was done on the property
by an...
1. Jim and Sally graduated from college in 2018. They have a combined monthly income (after taxes) of $8,400. Also, they have $5,500 in their savings account. They own a house worth $183,000, two used cars worth $22,000, jewelry worth $6,000, and furniture worth $4,000. The house has a mortgage of $167,000 and their car loans total $8,000. They have unpaid credit card balances of $3,200. Their monthly expenses are $6,400. Based on this information, please answer the following questions:...
this is all the information given
Personal Financial Planning Mini-Case Jeff and Mary Douglas, a couple in their mid-30s, have two children - Paul age 6 and Marcy age 7. The Douglas' do not have substantial assets and have not yet reached their peak earning years. Jeff is a general manager of a jewelry manufacturer in Providence, RI while Mary teaches at the local elementary school in the town of Tiverton, RI. The family needs both incomes to meet their...
Balance Sheet Data
Also prepare a balance sheet for them as of September 1, 2020
assuming the following information that Mary has gleaned from bank
and investment account statements, life insurance contracts, a
household inventory, and real estate documents. The biggest asset
they own is their home. They purchased the home a few years ago for
$225,000. The tax assessed value (used to calculate their property
taxes is $250,000. A very recent appraisal was done on the property
by an...
Most questions answered within 3 hours.
-
1. In eukaryotic cells the genomes of
&
asked 18 minutes ago -
The standard enthalpy of propanol (C3H7OH) is -303.0 kJ/mol.
Compute both of the
gross and net...
asked 18 minutes ago -
2) Write a C++ program that uses a class called “Degree” to
obtain the trigonometric
values...
asked 19 minutes ago -
Why PWM using H-bridge for control motor speed is more power
effiecient than the linear amplifier...
asked 32 minutes ago -
In 1999, Carly Fiorina famously said,"I hope that we are at a
point that everyone is...
asked 35 minutes ago -
Individuals in a species of moth vary in wing color from white to
black, but all...
asked 48 minutes ago -
The following standards for variable manufacturing overhead have
been established for a company that makes only...
asked 1 hour ago -
The United States government wanted to determine what proportion
of Americans approve of the current president,...
asked 1 hour ago -
2-N stone is dropped from the top of a cliff. The stone hits the
ground 3...
asked 1 hour ago -
Vitamins participate in metabolic reactions in their coenzyme
forms . Match the following reactions to the respective...
asked 1 hour ago -
We have developed a new mobile device and wish to gain insight
into the price that...
asked 1 hour ago -
12.8 ml of a solution is run into an empty flask, from a buret.
The mass...
asked 1 hour ago