Preparing income and expense statement worksheet from 2.2 From the data given, p
ID: 2437405 • Letter: P
Question
Preparing income and expense statement
worksheet from 2.2
From the data given, prepare Denise Fisher's balance sheet, dated June 30, 2017 ifallow the bai- ance sheet form shown in Worksheet 2.11. Then evaluate her balance sheet relative to the follow ing factors: la) solvency, lbl liquidity, and (cl equity in her dominant asset LG3, p. 51 4 Preparing income and expense statement. Use Worksheet 2.2 Bill and Nancy Ballinger are about to construct their income and expense statement for the year ending December 31, 2017 Bill is finishing up college and currrently has no income. They have put together the following in- come and expense information for 2017 Nancy's salary Reimbursement for travel expenses Interest on: $47000 1,950 Savings account Bonds of Alpha Corporation Groceries Rent Utilities 70 4, 150 9,600 960 Part 1 | Foundations of Financial PlanningExplanation / Answer
Income & Expense Statement Expense Amount Income Amount Groceries 4150 Nancy Salary 47000 Rent 9600 Reimbursement for Travel Expense 1950 Utilities 960 Interest Gas & Auto Expense 650 Savings Account 110 Bill's Tutions Books & Supplies 3300 Bonds of Alpha Corporation 70 180 Book Magazine & Periodicals 280 Clothing & Misc Expense 2700 Amount Paid for Photographic Instrument 1600 Nancy Travel Expense 1950 Amount Paid for Used Car 2450 Purchase of Bonds 4900 Profit 16590 Total 49130 49130