FIN-210 Topic 1 Continuing Case
Topic 1 Continuing Case
Navigate to Connect to complete the Topic 1 Continuing Case located in Connect.
Click here to Find all Assignments for FIN-210 Course Didn’t find your answers? Don’t worry, we are here to help you! Ask Questions
CHAT NOW or WhatsApp Us, so that our experts can immediately help you with all your assignment and make you completely Stress Free!
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 accumulating enough money towards the $9,000 down payment she needs to begin her dream of opening a cupcake café.
Jamie Lee has been making regular deposits to both her regular, as well as her emergency savings account. She would really like to sit down and get a clearer picture of how much she is spending on various expenses, including rent, utilities, 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.
Use the details below to complete Jamie Lee’s personal financial plan to determine her financial position. Each answer must have a value for the assignment to be complete. Enter “0” for any unused categories.
Current Financial Situation
| Assets: | Monthly Expenses: | |||
| Checking account | $1,250 | Rent obligation | $275 | |
| Emergency fund savings account | $3,100 | Utilities/electricity | $80 | |
| Car | $4,000 | Utilities/water | $45 | |
| Computer & iPad | $500 | Utilities/cable TV | $60 | |
| Liabilities: | Food | $120 | ||
| Student loan | $5,400 | Gas/maintenance | $100 | |
| Credit card balance | $400 | Credit card payment | $50 | |
| Income: | Car insurance | $50 | ||
| Gross monthly salary | $2,125 | Clothing | $50 | |
| Net monthly salary | $1,560 | Entertainment: | ||
| Savings allocation: | Cake decorating class | $35 | ||
| Regular savings | $150 | Movies with friends | $50 | |
| Rainy day savings | $25 |
Continuing Case 16. Personal Cash Flow Statement
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 accumulating enough money towards the $9,000 down payment she needs to begin her dream of opening a cupcake café.
Jamie Lee has been making regular deposits to both her regular, as well as her emergency savings account. She would really like to sit down and get a clearer picture of how much she is spending on various expenses, including rent, utilities, entertainment and how her debt compares to her savings and assets. Jamie Lee’s telephone is currently paid for by her father as she is on the family phone plan. 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.
Use the information below to record Jamie Lee’s inflows and outflows of cash for a one-month period. Each answer must have a value for the assignment to be complete. Enter “0” for any unused categories.
Current Financial Situation
| Assets: | Monthly Expenses: | |||
| Checking account | $1,250 | Rent obligation | $275 | |
| Emergency fund savings account | $3,100 | Utilities/electricity | $80 | |
| Car | $4,000 | Utilities/water | $45 | |
| Computer & iPad | $500 | Utilities/cable TV | $60 | |
| Liabilities: | Food | $120 | ||
| Student loan | $5,400 | Gas/maintenance | $100 | |
| Credit card balance | $400 | Credit card payment | $50 | |
| Income: | Car insurance | $50 | ||
| Gross monthly salary | $2,125 | Clothing | $50 | |
| Net monthly salary | $1,560 | Entertainment: | ||
| Savings allocation: | Cake decorating class | $35 | ||
| Regular savings | $150 | Movies with friends | $50 | |
| Rainy day savings | $25 |
Continuing Case 17. Cash Budget
Jamie Lee is reviewing her finances one month later. She has provided the actual amounts paid below. Use the cash budget table below to help her identify the variances in her budget. Each answer must have a value for the assignment to be complete. Enter “0” for any unused categories.
| Actual Amounts | ||||
| Income: | Monthly expenses: | |||
| Gross monthly salary | $2,225 | Rent obligation | $295 | |
| Net monthly salary | $1,660 | Utilities/electricity | $100 | |
| Savings allocation: | Utilities/water | $35 | ||
| Regular savings | $150 | Utilities/cable TV | $95 | |
| Rainy-day savings | $25 | Food | $145 | |
| Entertainment: | Gas/maintenance | $150 | ||
| Cake decorating class | $35 | Credit card payment | $25 | |
| Movies with friends | $50 | Car insurance | $60 | |
| Clothing | $150 | |||
| Budgeted Amounts | ||||
| Assets: | Monthly Expenses: | |||
| Checking account | $1,250 | Rent obligation | $275 | |
| Emergency fund savings account | $3,100 | Utilities/electricity | $80 | |
| Car | $4,000 | Utilities/water | $45 | |
| Computer & iPad | $500 | Utilities/cable TV | $60 | |
| Liabilities: | Food | $120 | ||
| Student loan | $5,400 | Gas/maintenance | $100 | |
| Credit card balance | $400 | Credit card payment | $50 | |
| Income: | Car insurance | $50 | ||
| Gross monthly salary | $2,125 | Clothing | $50 | |
| Net monthly salary | $1,560 | Entertainment: | ||
| Savings allocation: | Cake decorating class | $35 | ||
| Regular savings | $150 | Movies with friends | $50 | |
| Rainy day savings | $25 | |||
Course: FIN-210 Personal Finance
School: Grand Canyon University
- 19/11/2023
- 90
