Consider a family that has one working parent, a stay‐at‐home parent, and three children. Two of the children are in elementary school, and the youngest child is in Pre‐Kindergarten. They have a house, a car, and a minivan, and they carry some credit card debt.

The house is valued at $89,000 with a mortgage balance of $80,000.
The car is worth $15,000. The family owes $15,000 on this auto loan.
The minivan is worth $20,000. The family owes $16,000 on this auto loan.
They financed new household furnishings valued at $5,000. The family owes $4,500 on this loan.
They have $15,000 in their retirement account.
They have $1,500 in emergency savings, $1,000 in savings, $500 in checking, and $1,500 in a CD.
They have $200 in cash.
Balances on the credit cards total $15,000.
The family pays $500 per month for school loans; the current balance is $25,000.
The family pays $350 per month for Pre‐Kindergarten tuition.
All of the children are on soccer teams, which costs $100 per month.

For this assignment, use the information above to answer the following questions about the family's net worth:

Calculate the family's total assets.
Calculate the family's total liabilities.
Calculate the family's net worth, and identify whether the net worth is positive or negative.
List any expenses that would not fall on the balance sheet.

Answers

Answer 1

1. The family's total assets = $148,700.

2. The family's total liabilities = $155,500.

3. The family's net worth is ($6,800), which is $148,700 - $155,500.

What is the family's net worth?

The family's net worth is the excess of its total assets minus its total liabilities.

The net worth can be positive or negative.  It is negative when the total liabilities exceed the total assets.

Data and Calculations:

                                         Assets       Liabilities

House on mortgage      $89,000       $80,000

Car on auto loan               15,000          15,000

Minivan on auto loan      20,000          16,000

Furnishings                        5,000           4,500

Retirement account         15,000

Emergency savings           1,500

Savings                              1,000

Checking account              500

CD                                     1,500

Cash                                    200

Credit cards                                         15,000

School loan                                         25,000

Total                          $148,700      $155,500

4. Thus, the expenses that would not fall on the balance sheet are:

Payment for school loans of $500 per monthPre-Kindergarten tuition of $350 per monthPayment for soccer teams of $100 per month.

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Related Questions

Select three deductions someone would see on their paystubs.
Select 3 correct answer(s)

A.Social Security Tax

B.Marital Status Tax

C.Federal Income Tax

D.Medicare Tax

E. Excise Tax

Answers

The three deductions someone would see on their paystubs are:

A. Social Security Tax

C. Federal Income Tax

D. Medicare Tax


What is paystubs?

Paystubs is a paycheck and can be defined as a check that an employer issued out to the employee  for the service the employee rendered to the employer.

The three deductions someone would see on their paystubs are:

Social Security TaxFederal Income TaxMedicare Tax

Therefore the correct options are A, C, D.

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A sales message that says customers who purchase a specific product will save money and time is using ________ benefits as a persuasive tool. Multiple Choice product tangible scenario extraneous supplemental

Answers

A sales message that says customers who purchase a specific product will save money and time is using tangible benefits as a persuasive tool.

What do you mean by sale message?

A sale message refers to the central persuasive message that informs, persuades, calls to action, and closes the sale.

A sales message that says, customers who purchase a specific product will save money and time is using tangible benefits as a persuasive tool.

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A cashier is what type of resource ?

A. Natural resource (N)
B. Human resource (H)
C. Capital good (C).

Answers

Answer: B

Explanation: theyre human and a resourc

Suppose that a government that is skeptical of efforts to regulate prices charged by private companies is nevertheless concerned that an electric utility company is taking advantage of consumers with unfair pricing policies.

Answers

There exists unfair pricing policy in a market which is not purely competitive, and the seller may have monopolistic advantage.

What is unfair pricing policy?

Unfair pricing policy refers to charging different prices to different consumers for the exact product by a seller due to having a competitive advantage, leading to unfair trade.

Hence, the unfair pricing policy is as defined above.

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Which of the following statements best explains compound interest?

Interest based on the principal amount and the interest that accumulates over a
period of time.

Any form of interest earned from saving or investing.

The effect interest has on the total return on an investment over time.

Interest based only on the principal amount of a loan.

Answers

Interest based on the principal amount and the interest that accumulates over a

period of time

What is compound interest?

Compound interest is the amount of money paid on a loan.

The amount is computed by adding the interest on the sum of money borrowed by the individual and the interest that has accumulated in time past.

Therefore, Interest based on the principal amount and the interest that accumulates over a period of time.

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A perfect price discriminating monopoly produces _____.

Answers

Answer:

the same quantity of output as a perfectly competitive market. If anything is wrong let me know since I'm new to answering questions

Explanation:

Why do the media sensationalize issues?
A.
to generate interest in a story, attracting readers or viewers
B.
to ensure that both sides of a story are explored
C.
to remove bias from a story
D.
to make sure that only the most important issues get news coverage


Please select the best answer from the choices provided

A
B
C
D

Answers

Answer:

A. to generate interest in a story to attract viewers and readers

1. Use a formula to calculate the percentage of expenses for the 2013 summer budget that was spent on rent for the event. Write the formula you used and the percentage you calculated, to two decimal places, in the cell below. Hint: Use order of operations principles for the formula. (5 points)
2. A closer estimate of the total cost can be made by including the estimated sales tax. Use a formula to calculate the estimated cost for July 2014 using 7% sales tax. Then, write the formula you used and the estimated cost in the cell below. Hint: Convert 7% into a decimal for the formula. (5 points)
3. Current data can be used to predict future costs. Based on the budget for the last three summers, predict the amount of money that will be sponsored for each event in 2015. Write your prediction in the cell below, and explain how you arrived at your conclusion. Be sure to use currency formatting for the monetary amount. (5 points)
4. Based on the budget for the last three summers, predict the website hosting fee for August 2015. Write your prediction in cell A21, and explain how you arrived at your conclusion in cell A22. Be sure to use currency formatting for the monetary amount in cell A21. (5 points)

Answers

The formula that can be used to calculate the percentage of expenses from the budget will be (the amount spent on event × 100) / total expenses.

How to compute the formula?

From the information given, the formula that can be used to calculate the percentage of expenses will be:

= (the amount spent on event × 100) / total expenses. The month of June will be:

= (195 × 100)/297

= 65.66%

The estimated cost for July 2014 using 7% sales tax will be:

= 360 + (7% × 360)

= $385.20

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You pay for cheese and bread from the deli with currency. Which function of money does this best illustrate?.

Answers

Answer:

Medium of Exchange should be your answer.

Explanation:

The following budgets are all financial budgets except for the Question content area bottom Part 1 A. budgeted balance sheet. B. combined cash budget. C. capital expeditures budget. D. budgeted income statement.

Answers

Combined cash budget  is budgets are all financial budgets except for the area bottom Part 1 A. The cash budget begins with the initial cash balance, to which cash inflows are added to generate cash available.

What is Combined cash budget?

The cash budget is the total budget of all cash inflows and outflows. It should be divided into as few time periods as possible so that management is alerted to potential problems caused by cash flow fluctuations as soon as possible.

The period's cash outflows are then subtracted to determine the cash balance before financing.

Thus, option B is correct.

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Who is ultimately responsible for product accountability at the study site?.

Answers

The person that is ultimately responsible for product accountability at the study site is: investigator/institution.

Who is an investigator?

An investigator can be defined as the person that is charge of investigational product as the person help to investigate investigational products by ensuring that drug accountability is put in place.

Examples of investigational product are:

VaccineDrugClinical trial palliative etc

Therefore The person that is ultimately responsible for product accountability at the study site is: investigator/institution.

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An ad for Bagels, Inc., attracts buyers who would otherwise have made purchases from Croissant Company. To bring a successful claim against Bagels, Inc., under the federal Lanham Act for false advertising, Croissant must establish that

Answers

Under the federal Lanham Act for False Advertising, Croissant must establish that the ad was false or misleading and that shoppers were misled by the ad.

What is false advertising?

It corresponds to a situation where manufacturers and traders of goods and services offer non-existent or misleading offers to the consumer, with the objective of attracting him and obtaining profitable advantages, for example, through the tactic of bait and hidden information.

Therefore, there are laws that protect the consumer and combat the spread of misleading advertising, since when running an advertisement companies must follow certain legal rules.

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Which of the following is a good rule of thumb to follow if you do not know how you are supposed to dress for a job? a. Be colorful b. Be exciting c. Be flashy d. Be conservative Please select the best answer from the choices provided A B C D

Answers

Answer:

the answer is D "Be conservative" on edge 2022

Explanation:

hope this helps :)

Answer:

d. be conservative

Explanation:

When the contract rate of the bonds is higher than the market rate, the bond sells at a higher price than par value. The amount by which the bond price exceeds par value is the _______ on bonds.

Answers

The amount by which the bond price exceeds par value is the added on bonds.

What is a bond?

It represent and agreement between the borrower and the lender usually given on loan.

Bond is usually in written form and it is a legal binding between the parties involved.

Therefore, The amount by which the bond price exceeds par value is the added on bonds.

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Look at the poster. poster about manufacturing production. who is the target audience of this poster? people who are working in factories people who are questioning the war people who are fighting on the front lines people who are seeking employment

Answers

The target audience for this poster about manufacturing production is most likely people who are working in factories.

Who was the target of this poster on manufacturing?

The poster has a target audience of those who are already working in factories as a way of encouraging them to produce more goods.

It does this by showing the effects of reducing the amount of time that the person works in a day leading to less production.

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Answer:

A. people who are working in factories

Explanation:

Correct on Edge 2022!!!

What goes in the dark and never comes out in the light

Answers

Answer:

The dark

Explanation:

you can remove the "and" then your left with what goes in The Dark never comes out in the light. hope this helps ya!

Which of these statements is something an effective project manager would most likely say?
OA "have the most experience on the team, so I keep most of the work for myself."
OB. "I'm the one in charge, so I don't do much or any of the actual work."
OC "decide which team member will complete which tasks, and I try to let them make their own decisions on those tasks."
OD. "divide up the work for the different team members, but I make sure that I am the one making all of the decisions."

Answers

Answer:

c

Explanation:

letting the team make some of the decisions help to be a better team

Forty-two percent of federal revenue comes from . income taxes paid by businesses and corporations make up about of federal revenue. taxes collected for social security and medicare make up of federal revenue.

Answers

Individual income tax, 9% and 40% are the correct answers for the blanks.

How much revenue comes from income tax?

42 percent of federal revenue comes from income taxes paid by individual. Income taxes paid by businesses and corporations about 9% of federal revenue and Taxes collected for Social Security and Medicare about 40% of federal revenue.

So we can conclude that individual income tax, 9% and 40% are the correct answers for the blanks.

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Answer:

1. individual income taxes

2. 9%
3. 40%

Explanation:

edge

The primary purpose of the statement of cash flows is to:.

Answers

Answer:

The primary purpose of the statement of cash flows is to provide information about cash receipts, cash payments, and the net change in cash resulting from the operating, investing, and financing activities of a company during the period.

As a function of financial management, financial managers must understand tax regulations because ______. (Select all that apply)

Answers

Financial managers must understand tax regulations because businesses want to minimize taxes and they must consider the tax implications of major decisions.

What is tax?

Tax refers to compulsory levy, impose by the government of a country on an individual or business entity.

Government use tax money to support the following:

Building and technology infrastructure.Military programsPublic safetyEducationEnvironmental protection.

Hence, financial managers must understand tax regulations because they must consider the tax implications of major decisions

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briefly explain why networking is so important for a meetings and special event planner

Answers

Answer:  Meeting suppliers, Another reason that networking is essential is that you can never predict what or who you're going to need for your next event. One day, you could be working on a formal black tie dinner, and the next, a circus-themed party.

Explanation:

To increase value, marketers may ________, decrease price, or do both.

Answers

Increase
Mark me as brainliest

How do you solve economic equations when they add percentages like 200% & add another # with it?

Answers

Answer:

Sorry if this is unclear btw!

Explanation:

A percentage is a number multiplied by 100. So, 200 ÷ 100 = 2. So, if you are adding 200% to a number, you only add 2. When multipliying by 200%, you multiply by 2. Same for subtraction and division!

Imagine an influential new study shows that eating eggs drastically reduces the risk
of heart attacks. Which of the following is most likely to be the initial effect of the
study on the egg market?

A. The demand for eggs will increase, and the price of eggs will rise.

B. The demand for eggs will decrease, and the price of eggs will fall.

C. The supply of eggs will increase, and the price of eggs will rise.

D.The supply of eggs will decrease, and the price of eggs will fall.

Answers

According to the new study, the most likely to be the initial effect of the study on the egg market is the demand for eggs will increase, and the price of eggs will rise. The correct option is (A).

What is demand?

The quantity of a good that consumers are willing and able to buy at different prices during a specific time is known as demand in economics. The demand curve is another name for the relationship between price and quantity demand.

Demand for a given product depends on a variety of factors, including perceived need, price, perceived quality, convenience, alternatives offered, buyer preferences and disposable money.

Therefore, according to the new study shows that eating eggs drastically reduces the risk of heart attacks. The most likely to be the initial effect of the study on the egg market is the demand for eggs will increase, and the price of eggs will rise.

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Lindsay took out a(n) to purchase her new home. she used in the form of the property to back the loan. lindsay also paid money in advance. this is known as a(n) . if lindsay does not make her loan payments on time, the bank will most likely .

Answers

The bank will most likely be filled with the following:

Mortgage loanCollateralDown paymentSeize her home.

What is a loan?

A loan is a sum of money, borrowed from a financial institution usually a bank or credit union to meet certain obligations.

The following statement should be considered:

Lindsay took out a Mortgage Loan to purchase her new home.She used collateral in the form of the property to back the loan.Lindsay also paid money in advance. This is known as a Down payment.If Lindsay does not make her loan payments on time, the bank will most likely seize her home.

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Hence, the bank will most likely be filled with Mortgage loan, collateral, Down payment, seize her home.

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Answer:

Lindsay recently purchased a home. Like most people, she did not have the funds to pay cash, so she took out a loan. Lindsay used the property she was purchasing to guarantee the loan. She also had to pay a portion of it in advance.

Lindsay took out a(n)

✔ mortgage loan

to purchase her new home.

She used

✔ collateral

in the form of the property to back the loan.

Lindsay also paid money in advance. This is known as a(n)

✔ down payment

.

If Lindsay does not make her loan payments on time, the bank will most likely

✔ seize her home

.

Explanation:

see  pic

What is a tax return?


Answer: C. A form sent to the IRS which reports your annual income and deductions

Answers

What, you just told yourself the answer

Answer:

dawg answered his own question

Explanation:

how to invest when stocks and bonds are both crashing

Answers

Answer:

Mutual funds and exchange-traded funds (ETFs) are a good way to invest in stocks, as a pro is managing your money. A lot of financial advisors suggest using index funds, which track broad swathes of the market, such as the S&P 500. Research shows that they do better than actively managed funds.If you are a short-term investor, bank CDs and Treasury securities are a good bet. If you are investing for a longer time period, fixed or indexed annuities or even indexed universal life insurance products can provide better returns than Treasury bonds.

Explanation:

hope this helps if not let me know have a blessed day

The forecasting time horizon that would typically be easiest to predict for would be the Part 2 A. long range. B. medium range. C. short range. D. intermediate range.

Answers

The forecasting time horizon that would typically be easiest to predict for would be:

C. Short range.

What is a Short Range Timezone?

A short-range investment timezone refers to investments that last for less than five years. These sorts of investments are usually entered by workers who wish to retire in a short while.

Since the money invested will be reaped in a short while, it is usually easy to predict their timezones.

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What is the second step in the decision making model?.

Answers

stages include inspiration, percolation, preparation, creation, and reflection. the “percolation” period is vital to creating art. Basically, this is the time that elapses after you’ve had your idea, but before you start making art. It can transpire in many different ways.

Sometimes this involves refining your idea by making sketches (and tossing out just as many) or playing around with ideas visually. Other times, it’s just a matter of giving an idea space to germinate. Sometimes, you may have an idea years before you create the piece of artwork it inspired. It doesn’t mean you’ve been resting on your laurels that entire time, though. There’s part of you that is always processing and refining your idea.

disadvantages for the business for allowing debtors to buy on credit

Answers

Answer:

they can be expensive

Explanation:

limits can be low

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