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    Various Calculation - Finance

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    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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    https://brainmass.com/statistics/variance/various-calculation-finance-318394

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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.

    $2.19