Loose Leaf for Personal Finance
12th Edition
ISBN: 9781259720680
Author: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
Publisher: McGraw-Hill Education
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Chapter 3, Problem 1CC
Money management strategy: financial statements and budgeting
Jamie Lee Jackson, age 25, now a busy full-time college student and part-time bakery clerk, has been trying to organize all of her priorities, including her budget. She has been wondering if she is allocating enough of her income toward savings, which includes accumulating enough money toward the $9,000 down payment she needs to achieve her dream and open a cupcake café.
Jamie Lee has been making regular deposits to her regular and emergency savings accounts. She would really like to sit down amid get a clearer picture of how much she is spending on various expenses, including rent, utilities, amid entertainment, and how her debt compares to her savings and assets. She realizes that she must stay on track and keep a detailed budget if she is to realize her dream of being self-employed after college graduation.
1. According to the text, a Personal
| Current Financial Situation | ||
| Assets: | Monthly Expenses: | |
| Checking account: $1,250 | Rent obligation: $275 | |
| Emergency fund saving account: | Utilities obligation: | |
| $3,100 | $125 | |
| Car: $4,000 | Food: $120 | |
| Liabilities: | Gas/maintenance: $100 | |
| Student loan: $5,400 | Credit card payment: | |
| Credit card balance: $400 | $50 | |
| Income: | Saving: | |
| Gross monthly salary: $2,125 | Regular savings: $150 | |
| Net monthly salary: $1,560 | Rainy day savings: $25 | |
| Entertainment: | ||
| Cake decorating class: | ||
| $35 | ||
| Movies with friends: | ||
| $50 |
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Continuing Case 15. Personal Balance Sheet
Jamie Lee Jackson, age 24, now a busy full-time college student and part-time bakery clerk, has been trying to organize all of her
priorities, including her budget. She has been wondering if she is allocating enough of her income towards savings, which includes
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Chapter 3 Solutions
Loose Leaf for Personal Finance
Ch. 3 - Prob. 3.1PQ1Ch. 3 - Prob. 3.1PQ2Ch. 3 - Prob. 3.1PQ3Ch. 3 - Prob. 3.1PQ4Ch. 3 - Prob. 3.2PQ1Ch. 3 - Prob. 3.2PQ2Ch. 3 - Prob. 3.2PQ3Ch. 3 - Prob. 3.2PQ4Ch. 3 - Prob. 3.3PQ1Ch. 3 - Prob. 3.3PQ2
Ch. 3 - Prob. 3.3PQ3Ch. 3 - Prob. 3.3PQ4Ch. 3 - What actions might you take when evaluating your...Ch. 3 - Prob. 3.4PQ1Ch. 3 - Prob. 3.4PQ2Ch. 3 - Determining Liquid Assets and Current Liabilities....Ch. 3 - Calculating Balance Sheet Amounts. Based on the...Ch. 3 - 3. Preparing a Personal Balance sheet.Use the...Ch. 3 - 4. Computing Balance Sheet Amounts. For each of...Ch. 3 - Prob. 5FPPCh. 3 - 6. Determining Financial Progress. Carl Lester has...Ch. 3 - 7. Determining Budget Variances. Fran Bowen...Ch. 3 - 8. Calculating the Effect of inflation. Bill and...Ch. 3 - Prob. 9FPPCh. 3 - Prob. 10FPPCh. 3 - Prob. 11FPPCh. 3 - 12. Future Value of Savings. Kara George received...Ch. 3 - Researching Money Management Information. Talk to...Ch. 3 - Prob. 2FPACh. 3 - Prob. 3FPACh. 3 - Prob. 4FPACh. 3 - Prob. 5FPACh. 3 - Prob. 6FPACh. 3 - Prob. 1FPCCh. 3 - Prob. 2FPCCh. 3 - Prob. 3FPCCh. 3 - Money management strategy: financial statements...Ch. 3 - Prob. 2CCCh. 3 - Prob. 3CCCh. 3 - Prob. 4CCCh. 3 - Prob. 1DSDCh. 3 - Prob. 2DSD
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