Financial statements and calculations

James and Nikki Jones

Personal Balance Sheet December 31, 2013

Assets Liabilities

Cash/cash equivalents Current liabilities

JT Checking account 5,000 W Credit card 1 7,900

JT Savings account 4,500 H Credit card 2 8,000

Total cash 9,500 Current liabilities 15,900

Investment assets Long-term liabilities

W Nikki's 401k 30,000 JT Mortgage 165,000

H James' investment portfolio 25,000 JT Car 12,000

H James' IRA 11,000 W Student Loan 24000

Total investment 66,000 Long-term liabilities 201,000

Personal use assets Total liabilities 216,900

JT Primary residence 275,000

W jewery 13,000 Net worth 172,600

JT Car 26,000

Total personal assets 314,000

Total assets 389,500 Total liabilities and net worth 389,500

JT: jointy tenancy with right of survivorship H: husband W: wife