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Use the following items to prepare a balance sheet and a

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Preparing a Personal Balance Sheet. Use the following items to prepare a balance sheet and a cash flow statement. Determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows. 

Rent for the month, $650

Auto insurance, $230

Monthly take-home salary, $1,950

Household possessions, $3,400

Cash in checking account, $450

Stereo equipment, $2,350

Savings account balance, $1,890

Payment for electricity, $90

Spending for food, $345

Lunches/parking at work, $180

Balance of educational loan, $2,160

Donations, $70

Current value of automobile, $7,800

Home computer, $1,500

Telephone bill paid for month, $65

Value of stock investment, $860

Credit card balance, $235

Clothing purchase, $110

Loan payment, $80

Restaurant spending, $130

Reference no: EM13574714

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