# Various Calculation - Finance

1. Based on the data, determine the amount of total assets, total liabilities, and net worth.

Liquid assets, $3,670 Investment assets $8,340

Current liabilities $2,670 Household assets $89,890

Long-term liabilities $76,230

a. Total assets$___________

b. Total liabilities $________________

c. Net worth $_________________

2. Using the following balance sheet items and amounts, calculate the total liquid assets and total current liabilities:

Money market account $2,600 Medical bills $232

Mortgage $158,000 checking account $780

Retirement account $86,700 credit card balance $489

a. Total liquid assets $_____________

b. Total current liabilities $_______________

3. Use the following items to determine the total assets, total liabilities, net worth, total cash inflows and total cash outflows

Rent for the month $650 monthly take home salary $1,950

Spending for food $345 cash in checking account $450

Savings account balance $1,890 balance of educational loan $2,160

Current value of automobile $7,800 telephone bill paid for month $65

Credit card balance $235 loan payment $80

Auto insurance $230 household possessions $3,400

Stereo equipment $2,350 payment for electricity $90

Lunches/parking at work $180 donations $70

Home computer $1,500 value of stock investment $860

Clothing purchase $110 restaurant spending $130

a. Total assets $____________

b. Total liabilities $_____________

c. Net Worth $________________

d. Total cash inflows $______________

e. Total cash outflows $_____________

4. for each of the following situations, compute the missing amount

a. assets $45,000; liabilities $16,000; net worth $___________

b. assets $76,500; liabilities $___________; net worth $18,700

c. assets $34,280; liabilities $12,965; net worth $_______________

d. assets $__________; liabilities $38,345; net worth $52,654

8. For the following situations, calculate the cash surplus or deficit

Cash inflows cash outflows difference (surplus or deficit)

$3,400 $3,218 $__________ ___________

4,756 4,833 $__________ ___________

4,287 4,218 $__________ ___________

10. Fran Powers created the following budget and reported the actual spending listed. Calculate the variance for each of these categories and indicate whether it was a deficit or a surplus.

Item budgeted actual variance deficit/surplus

Food $350 $298 _______ ___________

Transportation 320 337 _______ ___________

Housing 950 982 _______ ___________

Clothing 100 134 _______ __________

Personal 275 231 _______ ___________

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#### Solution Summary

The solution computes total assets, total liabilities, and net worth,the total liquid assets and total current liabilities,total cash inflows and total cash outflows, and variances with the given information.