What is Jerry's saving ratio if he has the following: Cash in bank: $4,000 Net worth:...
What is Jerry's saving ratio if he has the following:
Cash in bank: $4,000
Net worth: 44,000
Liabilities: 8,000
Current liabilities: $450
Monthly credit payments: $200
Monthly savings: $100
Monthly expenses: $400
Net pay: $1,200
Gross pay: 1,900
Homework Answers
| The savings ratio is the ratio of monthly savings divided by disposable income | |||
| Savings Ratio = | Monthly Savings/Net Income | ||
| Savings Ratio = | 100/1200 | ||
| Savings Ratio = | 8.333% | ||
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What is Jerry's saving ratio if he has the
following:
Cash in bank: $4,000
Net worth:...
What is Jerry's debt ratio if he has the following: Cash in bank: $4,000 Net worth:...
What is Jerry's debt ratio if he has the following: Cash in bank: $4,000 Net worth: 44,000 Liabilities: 8,000 Current liabilities: $450 Monthly credit payments: $200 Monthly savings: $100 Monthly expenses: $400 Net pay: $1,200 Gross pay: 1,900
Given the following information, calculate the liquidity ratio: (Round your answer to 2 decimal places) Liabilities...
Given the following information, calculate the liquidity ratio: (Round your answer to 2 decimal places) Liabilities - $38,500 Liquid assets - $7,700 Monthly credit payments - $1,500 Monthly savings - $1,180 Net worth - 593,500 Current liabilities - $3,000 Take-home pay - $3,700 Gross income - $7,700 Monthly expenses - $4,840 Multiple Choice O 41.18 O 2.57
1. liquid assets / monthy expenses= ? 2. net worth / total assets =? 3. total...
1. liquid assets / monthy expenses= ?
2. net worth / total assets =?
3. total debt / annual total income=?
4. housing amd monthly debt paymenrs / monthly income =?
5. housing cost / monthly income =?
$122,782 $ 5,860 Karl's net income from the bar (Schedule C) $64,000 June's salary 57,200 Dividend income 777 Checking interest income 130 Savings interest income 400 Certificate of deposit 275 Total inflows OUTFLOWS Planned savings Section 401(k) plan 5% deferral for June...
The Sampsons realize that the first step toward achieving their financial goals is to create a...
The Sampsons realize that the first step toward achieving their financial goals is to create a budget capturing their monthly cash inflows and outflows. Dave and Sharon’s combined disposable (after-tax) income is now about $5,000 per month. Reviewing their bank statement from last month, Dave and Sharon identify the following monthly household payments: $1,100 for home expenses (including the mortgage payment, home insurance, and property taxes) $100 for Internet $200 for electricity and water $200 for cellular expenses $800 for...
9.Given the following information, calculate the debt ratio percentage: (Round your answer to 2 decimal places.)...
9.Given the following information, calculate the debt ratio percentage: (Round your answer to 2 decimal places.) Liabilities = $28,500 Liquid assets = $5,700 Monthly credit payments = $1,000 Monthly savings = $880 Net worth = $78,500 Take-home pay = $2,700 Gross income = $4,700 Monthly expenses = $2,840 a 2.01% b 2.85% c 36.31% d 18.72% e 37.04% 10.Rebecca Wilson’s monthly budget had planned spending of $379 for a new wardrobe in June. She actually spent $414. What is her...
I Have to fill out a net worth statement and am lost please help It is...
I Have to fill out a net worth statement and am lost please
help
It is January 2 and the owner of Farms on the Brazos is putting together an annual net worth statement for the farming business. He has assembled the following items of information. Help him fit it all of these items together using the attached blank Net Worth statement. 1. The farm bank account has a balance of $4,250. a. C. 2. The grain inventory is as...
Use the following items to determine the total assets, total liabilities, net worth, total cash inflows,...
Use the following items to determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows. Rent for the month Spending for food Savings account balance Current value of automobile Credit card balance Auto insurance Video equipment Lunches/parking at work Personal computer Clothing purchase $ 700 Monthly take-home salary $ 370 Cash in checking account $ 1,900 Balance of educational loan $ 8,900 Telephone bill paid for month $ 240 Loan payment $ 240 Household possessions...
Use the following balance sheet and cash flow information to determine the net worth and net...
Use the following balance sheet and cash flow information to determine the net worth and net surplus for an individual in a recent month: Liquid Assets $15,000 Home Value $220,000 Investment assets: $120,000 Personal Property $30,000 Total assets: $385,000 Short Term Debt: $7000 ($250 a month) Monthly Mortgage Payment $1400 on a $180,000 mortgage Total Debt: $187,000 Monthly Gross Income: $11,000 Monthly Disposable Income $ 4000 Monthly Expenses: $7000 Now that the individual above has a better understanding of their...
Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000...
Account Current Year Prior Year Net sales (all credit) $445,400 $362,000 Costs of goods sold $220,000 $185,000 Gross profit $225,400 $177,000 Income from operations $72,000 $80,000 Interest expense $8,000 $14,000 Net income $40,000 $35,000 Cash $34,000 $28,000 Accounts receivable, net $42,000 $62,000 Inventory $120,000 $100,000 Prepaid expenses $4,000 $2,000 Total current assets $200,000 $192,000 Total long-term assets $200,000 $230,000 Total current liabilities $100,000 $165,000 Total long-term liabilities $44,000 $95,000 Common stock, no par, $8,000 shares, value $120/share $80,000 $80,000 D....
Corey has a mountain bike worth $300, a credit card debt of $150, $200 in cash,...
Corey has a mountain bike worth $300, a credit card debt of $150, $200 in cash, a Sandy Koufax baseball card worth $400, $1,200 in a checking account, and an electric bill due for $250. a. Construct Corey's balance sheet on your own and calculate his net worth Corey's net worth: $ For parts b through d, explain how each event affects Corey's assets, liabilities, and wealth b. Corey goes to a baseball card convention and finds out that his...
Given the following information, calculate the liquidity ratio: (Round your answer to 2 decimal places) Liabilities - $38,500 Liquid assets - $7,700 Monthly credit payments - $1,500 Monthly savings - $1,180 Net worth - 593,500 Current liabilities - $3,000 Take-home pay - $3,700 Gross income - $7,700 Monthly expenses - $4,840 Multiple Choice O 41.18 O 2.57
1. liquid assets / monthy expenses= ?
2. net worth / total assets =?
3. total debt / annual total income=?
4. housing amd monthly debt paymenrs / monthly income =?
5. housing cost / monthly income =?
$122,782 $ 5,860 Karl's net income from the bar (Schedule C) $64,000 June's salary 57,200 Dividend income 777 Checking interest income 130 Savings interest income 400 Certificate of deposit 275 Total inflows OUTFLOWS Planned savings Section 401(k) plan 5% deferral for June...
I Have to fill out a net worth statement and am lost please
help
It is January 2 and the owner of Farms on the Brazos is putting together an annual net worth statement for the farming business. He has assembled the following items of information. Help him fit it all of these items together using the attached blank Net Worth statement. 1. The farm bank account has a balance of $4,250. a. C. 2. The grain inventory is as...
Use the following items to determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows. Rent for the month Spending for food Savings account balance Current value of automobile Credit card balance Auto insurance Video equipment Lunches/parking at work Personal computer Clothing purchase $ 700 Monthly take-home salary $ 370 Cash in checking account $ 1,900 Balance of educational loan $ 8,900 Telephone bill paid for month $ 240 Loan payment $ 240 Household possessions...
Corey has a mountain bike worth $300, a credit card debt of $150, $200 in cash, a Sandy Koufax baseball card worth $400, $1,200 in a checking account, and an electric bill due for $250. a. Construct Corey's balance sheet on your own and calculate his net worth Corey's net worth: $ For parts b through d, explain how each event affects Corey's assets, liabilities, and wealth b. Corey goes to a baseball card convention and finds out that his...
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