Question 2 Your grandmother is visiting Guadalajara to start a new retirement life. She is interested in applying for a bank loan in order to buy a house and a car. She is worried that she would not be granted the loan because of her financial situation. She has given you the following financial information: Rent for the month, $650 Cash in checking account, $450 Spending for food, $345 Current value of automobile, $7,800 Credit card balance, $235 Auto insurance, $230 Stereo equipment, S$2,350 Lunches/parking at work, S180 Home computer, S1,500 Clothing purchase, S110 Monthly take-home salary, $1,950 Savings account balance, $1,890 Balance of educational loan, S2,160 Telephone bill paid for month, S65 Loan payment, $80 Household possessions, S3,400 Payment for electricity, $90 Donations to church, $70 Value of stock investment, $860 Restaurant spending, $130 Help your grandmother to calculate and prepare: a) A statement of total assets b) Details of total liabilities c) Net worth d) Total cash inflows e) Total cash outflows f) The balance sheet 8) Cash flow statement

Question 2 Your grandmother is visiting Guadalajara to start a new retirement life. She is interested in applying for a bank loan in order to buy a house and a car. She is worried that she would not be granted the loan because of her financial situation. She has given you the following financial information: Rent for the month, $650 Cash in checking account, $450 Spending for food, $345 Current value of automobile, $7,800 Credit card balance, $235 Auto insurance, $230 Stereo equipment, S$2,350 Lunches/parking at work, S180 Home computer, S1,500 Clothing purchase, S110 Monthly take-home salary, $1,950 Savings account balance, $1,890 Balance of educational loan, S2,160 Telephone bill paid for month, S65 Loan payment, $80 Household possessions, S3,400 Payment for electricity, $90 Donations to church, $70 Value of stock investment, $860 Restaurant spending, $130 Help your grandmother to calculate and prepare: a) A statement of total assets b) Details of total liabilities c) Net worth d) Total cash inflows e) Total cash outflows f) The balance sheet 8) Cash flow statement

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter6: Building And Maintaining Good Credit

Section: Chapter Questions

Problem 2FPC

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