Cassidy Dunbar

Reflection #2

Opening Balances as of September 1, 2017

Cash $2,500
Contents of Home $8,000
Automobile $10,000
Unpaid Accounts $1,900
Student Loan $7,700
Net Worth $10,900

Net Worth = Total Assets – Total Liabilities

Net Worth = $20,500 - $9,600
Net Worth = $10,900

Assets Liabilities
Cash $2,500 Unpaid Accounts $1,900
Contents of Home 8,000 Student Loan 7,700
Automobile 10,000 Total Liabilities 9,600
Net Worth 10,900
Total Assets $20,500 Total Liabilities + Net Worth $20,500

Cassidy Dunbar
Personal Income Statement
For the Month Ending September 31,2017
Revenue $4,000
Expenses
Rent Expense $1,000
Food Expense 500
Entertainment Expense 100
Total Expenses 1,600
Surplus (deficit) $2,400

September 31,2017
Opening Net Worth $10,900
Surplus (Deficit) 2,400
Closing Net Worth $13,300
 Cassidy Dunbar
Reflection #2

Personal Balance Sheet Income Statement

As of September 31, 2017 For the Month Ending
Assets Liabilities September 31, 2017
Increase Decrease Decrease Increase Revenue
+ Cash - - Unpaid Accounts + Decrease Increase
Opening
Balance
2,500 1,900 Opening
Balance - +
4000 4,000
1000 $4,000
500
100
$4,900 $1,900 Less Expenses

Increase Decrease Decrease Increase Increase Decrease

+ Contents of Home - - Student Loan + + Rent Expense -
Opening
8,000 7,700 Opening 1,000
Balance Balance
$1,000

$8,000 $7,700 Increase Decrease

+ Food Expense -
Increase Decrease Decrease Increase 500
+ Automobile - - Net Worth + $500
Opening
Balance
10,100 10,900 Opening
Balance

Increase Decrease
+ Entertainment Expense -
100
$10,000 $10,900 $100

Total Assets $22,900

Total Liabilities $9,600
Total Revenue $4,000
Net Worth $13,300
Less Total Expenses 1,600
Equals Surplus (deficit) $2,400