In: Finance
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 |
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QUESTION 2
Which of the following is Terry's cash surplus/deficit?
$ 13,800 |
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$ 6,900 |
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$ 7,100 |
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$ 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 |
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there is a drastic improvement from the previous year |
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there is a slight decline from the previous year |
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there is a drastic decline from the previous year |