John Black is a working at a law firm. His salary recently increased and he...
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Accounting
John Black is a working at a law firm. His salary recently increased and he would like to keep track of his net worth. John has gathered the following information to help you track his net worth. Assume opening net worth for February 29 is $480.
February 29, 2016
March 31, 2016
April 30, 2016
Cash
$7,390
$12,890
$18,890
Automobile
$13,000
$13,000
$13,000
Credit Card Bills
$1,420
$1,220
$920
Automobile Loan
$12,000
$11,500
$11,000
Salary
$9,100
$9,500
$9,500
Food Expense
$1,660
$2,390
$1,730
Entertainment Expense
$180
$140
$200
Rent Expense
$770
$770
$770
Do not enter dollar signs or commas in the input boxes. Use the negative sign for a deficit.
Required
Complete the table below.
February 29, 2016
March 31, 2016
April 30, 2016
Opening Net Worth
?
?
?
Surplus (Deficit)
?
?
?
Closing Net Worth
?
?
?
Answer & Explanation
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