Question

Terry Dactal has compiled the financial information displayed below. Which of the following is Terry’s net worth?

Salaries	$72,400	Credit Card Balance	$8,600
Cash on Hand	$1,500	Utilities paid to date	$8,450
Coin Collection	$2,350	Jewelry Value	$8,500
Home value	$335,000	Auto loan balance	$14,300
Stock Portfolio	$18,500	1967 Ford Mustang value	$40,900
Grocery Expenses	$7,550	Checking account	$3,200
Mortgage Balance	$278,600	Property Taxes owed	$1,750
Mortgage loan payments made	$19,500	Student loan balance	$26,200
New York vacation expenses paid	$4,200	Auto loan payments paid	$6,600
Income taxes paid-to-date	$9,100	Clothing/entertainment expense	$5,000
Interest Earned	$400	Insurance premiums paid	$5,500

 

QUESTION 2

Which of the following is Terry's cash surplus/deficit?

		$ 13,800
		$ 6,900
		$ 7,100
		$ 10,500

1 points   

QUESTION 3

If Terry had a solvency ratio of 42% the previous year, which of the following statements is correct?

		there is a slight improvement from the previous year
		there is a drastic improvement from the previous year
		there is a slight decline from the previous year
		there is a drastic decline from the previous year

Answer 1