Use the following items to prepare a balance sheet and a cash flow statement.
Determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows.
Rent for the month, $650Monthly take-home salary, $1,950Cash in checking account, $450Savings account balance, $1,890Spending for food, $345Balance of educational loan, $2,160Current value of automobile, $7,800Telephone bill paid for month, $65Credit card balance, $235Loan payment, $80Auto insurance, $230Household possessions, $3,400Stereo equipment, $2,350Payment for electricity, $90Lunches/parking at work, $180Donations to church, $70Home computer, $1,500Value of stock investment, $860Clothing purchase, $110Restaurant spending, $130
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