Create cash flow statement for the Crawley family given the data below. The Clie
ID: 2761045 • Letter: C
Question
Create cash flow statement for the Crawley family given the data below. The Clients Financial Information (monthly figures):
Data provided as of 12/31/2015
Clients wife’s Monthly Salary 2,500
Jewelry 6,500
401(k) Account (His) 110,368
Dividend/Interest Income (monthly) 47
401(k) Account (Her) 37,581
Mortgage Payment (PITI) 1,777
Boat 8,000
Infiniti Payment 448
2007 Jeep Patriot 12,000
Jeep Payment 240
Harley Payment 210
Furniture 12,300
BB National Credit Card Payment 195
Infiniti Loan 42,000 (3% interest rate. Length of loan unknown )
Sears Credit Card Payment 305
Brokerage Account 3,700
Cable 120
Alarm System 39
BB National CC 5,237 ( 24% interest rate )
Life Insurance 140
Internet 100
Gas 370
Cellphone 130
Robert 's Monthly Salary 8,800
Harley Davidson 21,000
Water 80
Sears CC 10,200 (18% interest rate )
Entertainment 400
Auto Insurance 168
Child Care 1,400
Home Repairs 200
2010 Infiniti E35 44,500
Groceries 500
Checking (Joint) 2,000
Bank CD (Joint) 4,000
Dining Out 400
Hobbies 300
Savings Account 2,300
Roth IRA (H) 7,298
Club Dues 150
Harley Davidson Loan 18,000 (6% rate on loan. Remaining terms unknown. )
Dry Cleaning 160
Charity 350
Primary Mortgage 180,000 (This is the approximate balance of the mortgage. The current interest rate is 6.6% and the original loan amount was for $200,000. The mortgage is a 30 year mortgage.)
Landscaping 300
Maid 400
Parking and Tolls 40
Dividend/ Interest Reinvestment 47
Student Loan Payment 280
clients's 401(k) contributions 300
Student Loans H 37,000 (Student Loans were just consolidated. Interest rate is 6% . )
wife’s 401(k) contributions 250
Cash Savings Contribution 300
Jeep Auto Loan 10,000 (Interest rate is 5% and original term of the loan is unknown )
clients's Roth Contributions 220
Total Taxes (FICA AND INCOME TAX) 553
Primary Home (VALUE) 278,900
Explanation / Answer
cash flow statement activities
operating
investing
financing
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.