Question

Use the following items to determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows.
Rent for the month $ 1,390 Monthly take-home salary $ 3,920
Cash in checking account $ 1,340 Savings account balance $ 2,770
Spending for food $ 1,110 Balance of educational loan $ 3,050
Current value of automobile $ 8,020 Telephone bill paid for month $ 85
Credit card balance $ 334 Loan payment $ 143
Auto insurance $ 321 Household possessions $ 3,510
Stereo equipment $ 3,320 Payment for electricity $ 189
Lunches/parking at work $ 204 Donations $ 116
Home computer $ 2,490 Value of stock investment $ 1,160
Clothing purchase $ 139 Restaurant spending $ 223

Answer 1

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