Question
In: Accounting
f the Nielson family had a monthly budget set up which showed their monthly expenses of...
f the Nielson family had a monthly budget set up which showed their monthly expenses of $3,016, their monthly state and federal taxes of $724, a monthly contribution to their savings plan of $390, and a monthly income of $4,317, what would have been their monthly cash flow?
Solutions
Expert Solution
| Nielon's Family | |
| Statement of Cash Flow | |
| $ | |
| Cash inflows; | |
| Monthly income | 4,317.00 |
| Cash Outflows; | |
| Monthly expenses | 3,016.00 |
| State and Federal taxes payment | 724.00 |
| Contribution to savings plan | 390.00 |
| Total cash outlows | 4,130.00 |
| Net cash flow ( $ 4,317 - $ 4,130 ) | 187.00 |
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