On September 30 Ashley and Jason started arguing about

who #2656
On September 30, Ashley and Jason started arguing about who is better off. Jason said he was
better off because he owned a PlayStation console that he bought last year for $ 250. He
figures that, if needed, he could sell it to a friend for $ 180. Ashley argued that she was better
off because she had $ 1,000 cash in her bank account and a piece of art that she bought two
years ago for $ 800 but could now probably sell for $ 1,400. Jason countered that Ashley still
owed $ 250 on a loan and that Jason’s dad promised to buy him a Porsche if he does really
well in his accounting class. Jason said he had $ 6,000 cash in his bank account right now
because he just received a $ 4,800 student loan. Ashley knows that Jason also owes a tuition
installment of $ 800 for this term.Ashley and Jason met again in early November. They asked
how each other was doing. Ashley claimed that she’d become much more successful than
Jason. She had a part- time job, where she earned $ 1,500 per month. Jason laughed at Ashley
because he had won $ 1,950 on a lottery ticket he bought in October, and that was merely for
the “work” of standing in line for a minute. It was just what he needed because his apartment
costs $ 800 each month. Ashley, on the other hand, pays $ 470 for her share of the rent. Both
Ashley and Jason have other normal living costs that total $ 950 each month.1. Prepare a
financial report that compares what Ashley and Jason each owns and owes on September 30.
Make a list of any decisions you had to make when preparing your report.2. In a written report,
identify and justify which of the two characters is better off. If you were a creditor, to whom
would you rather lend money?3. Prepare a report that compares what Ashley and Jason each
earned during October. Make a list of any decisions you had to make when preparing your
report.4. In a written report, identify and justify which of the two characters is more successful. If
you were a creditor considering a three- year loan to one of these characters, to whom would
you rather lend money?View Solution:
On September 30 Ashley and Jason started arguing about who

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