ch 4.a)b)State the FIVE steps in planning personal financial affairs.List any THREE financial plans, and identify the goal associated with eachfinancial plan.c)The following is an extract of Betty Soh's financial position as at 31December 2015.Asset ($)Liquid AssetsOther AssetsTotal Assets33 000745 000778 000Liabilities and Net Worth ($)(i) Solvency ratio(ii) Liquidity ratio(iii) Gearing ratioTotal LiabilitiesNet WorthTotal Liabilities andNet Worth357 000421 000778 000Betty's Total Liabilities include a $288 000 housing loan and a $53 500 carloan. His total income for the year 2015 was $76 000.Calculate the following financial ratios for Betty, correct to 2 decimalplaces.

Solvency ratio: A solvency ratio is a key metric used to measure an enterprise ability to meet its…

Answered: 4. a) b) State the FIVE steps in…

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter3: Financial Statements, Tools, And Budgets

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Define personal financial planning, list the six steps of financial planning
A personal balance sheet is the financial picture of how much "wealth" you have accumulated as of a certain date. It specifically lists your assets (i.e., what you own) and your liabilities (i.e., what you owe). Your current net worth is the difference between the assets and the liabilities. net worth = assets − liabilities Tom and Carol Jackson have asked for your help in preparing a personal balance sheet. They have listed the following assets and liabilities: current value of home, $149,000; audio/video equipment, $1,340; automobiles, $17,700; personal property, $4,350; computer, $3,700; mutual funds, $26,700; 401(k) retirement plan, $53,680; jewelry, $4,800; certificates of deposit, $19,300; stock investments, $24,280; furniture and other household goods, $8,600; balance on Walmart and Sears charge accounts, $4,868; automobile loan balance, $8,840; home mortgage balance, $106,170; Visa and MasterCard balances, $4,213; savings account balance, $3,700; Carol's night school tuition…
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1. Compute for the financial health ratios of the company for 2019 C.Financial Health/ (Solvency and Liquidity) Solvency ratio: a. Debt to equity ratio b. Debt Ratio c. Equity Ratio d. Interest Coverage Ratio Liquidity ratio: a. Current Ratio b. Quick Ratio
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‏The first page includes a sample income statement and balance sheet for the years 2021 and 2022. ‏The second page provides the ratios of the year 2023. ‏A)Use the given the information provided in the first page to calculate it with ratios in order to creat the following for the year 2023: 1- income statement 2- balance sheet 3- cash flow statement ‏B) Based on your initial projections, how much external financing (long-term debt and/or stockholders' equity) will a firm need to fund its growth at projected increases in sales?
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Alex is currently considering to invest his money in one of the companies betweenCompany A and Company B. The summarized final accounts of the companies for theirlast completed financial year are as follows: (please refer to the images) Required:a. Calculate the following ratios for Company A and Company B. State clearly theformulae used for each ratio:iv. Receivables Collection Period (days)v. Payables Payment Period (days)vi. Current Ratiovii. Quick Ratio + Comment on each of the ratios calculated in part (a) above.
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