Please Scroll Down to See Forums Below 
Alrite, I have assignments due for my internet Personal Finance class. I'm working on them now and I am going crazy!! I want to make sure that I am getting this stuff right!! If any of you can find the time and help my sorry self out, it would be greatly appreciated!!
Assignment #1: Personal Balance Sheets and Cash Flows
There are three parts to this assignment. Be sure to complete all three for full credit.
1. Use the following items to prepare a balance sheet and a monthly cash flow statement. You will need to determine total assets, total liabilities, net worth, total cash inflows and total cash outflows.
Rent for the month $ 650
Monthly take-home salary 1,950
Cash in checking account 450 Savings account balance 1,890
Spending for food 345 Balance of educational loan 2,160
Current value of automobile 7,800 Telephone bill paid for month 65
Credit card balance 235 Loan payment 80
Auto Insurance(monthly) 230 Household possessions 3,400
Stereo equipment 2,350 Monthly payment for electricity 90
Lunches/parking at work 180 Donations 70
Home computer 1,500 Value of stock investment 860
Clothing purchases per month 110 Monthly restaurant spending 130
2. Using the figures from the balance sheet and cash flow statements above, CALCULATE and INTERPRET the meaning of your answer (verbally, and be specific, please) for each of the following formulas:
a) Debt Ratio
b) Current Ratio
c) Liquidity Ratio
d) Debt-payments ratio
e) Cash Variance (surplus or deficit)
3. Briefly analyze the financial position of a person having these financial statements. Do you have any constructive advice to offer?
Assignment #1: Personal Balance Sheets and Cash Flows
There are three parts to this assignment. Be sure to complete all three for full credit.
1. Use the following items to prepare a balance sheet and a monthly cash flow statement. You will need to determine total assets, total liabilities, net worth, total cash inflows and total cash outflows.
Rent for the month $ 650
Monthly take-home salary 1,950
Cash in checking account 450 Savings account balance 1,890
Spending for food 345 Balance of educational loan 2,160
Current value of automobile 7,800 Telephone bill paid for month 65
Credit card balance 235 Loan payment 80
Auto Insurance(monthly) 230 Household possessions 3,400
Stereo equipment 2,350 Monthly payment for electricity 90
Lunches/parking at work 180 Donations 70
Home computer 1,500 Value of stock investment 860
Clothing purchases per month 110 Monthly restaurant spending 130
2. Using the figures from the balance sheet and cash flow statements above, CALCULATE and INTERPRET the meaning of your answer (verbally, and be specific, please) for each of the following formulas:
a) Debt Ratio
b) Current Ratio
c) Liquidity Ratio
d) Debt-payments ratio
e) Cash Variance (surplus or deficit)
3. Briefly analyze the financial position of a person having these financial statements. Do you have any constructive advice to offer?
