1. Business
  2. Accounting
  3. end year 1 end year 2 end year 3 assets...

Question: end year 1 end year 2 end year 3 assets...

Question details
  End year 1 end year 2 end year 3
Assets      
Property $50,000 $50,000 $200,000
Motor Vehicle 15,000 15,000 40,000
Shares 10,000 10,000 10,000
Cash 5,000 8,000 20,000
       
Liabilities      
Mortgage Balance $40,000 $30,000 $0
Car Loan 8,000 5,000 0
Students loans 10,000 8,000 0
       
Income      
Salary $30,000 $35,000 $40,000
other (interest)  0 1,000 1,000
       
Expenses      
Mortgage PAyments $5,000 $5,000 $0
Car payments 1,000 5,000 2,500
Student loan payments 1,000 1,000 500
Other living expenses  15,000 15,000 20,000

Required:

A. Prepare a net worth calculation to determine unknown income based on the data provided above. [5 marks]

B. In your own words, briefly discuss the results from your analysis. [5 marks]

 

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