Reference no: EM131015970
A) Construct a personal income statement for the Humperdinck family using the following information: salaries, $42,000; mortgage payment, $7,980; food, $2,400; interest income, $150; transportation, $1,200; dividend income, $190; automobile payment, $3,060; clothes and personal, $2,000; student loan payment, $1,700; property taxes, $1,100; utilities, $3,000; insurance, $2,100; income taxes $9,700; and recreation and vacation, $2,000. What is the family's disposable income?
B) Construct a statement of financial position (balance sheet) for the Humperdinck family using the following information: cash, $50; checking account, $2,500; student loan balance, $6,000; stocks and bonds, $2,600; savings account, $5,850; residence, $110,000; automobile, $12,000; savings account, $5,800; automobile loan balance, $12,000; 401K retirement account, $15,000; furniture, clothing, jewelry, $8,000; credit card balance, $4,000; and mortgage loan balance, $99,000
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: Construct a personal income statement for the Humperdinck family using the following information: salaries, $42,000; mortgage payment, $7,980; food, $2,400; interest income, $150; transportation, $1,200; dividend income, $190; automobile payment, $3,..
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