Answer to Question #281493 in Finance for suveetha

Question

ITEMS

Rent for the month 1 200

Sala 4 050

Current account 4 500

Savin account 15 500

S endin on food er month 550

Education loan a ment er month 100

Car 37 800

Credit card balance 700

Car loan a ment er month 690

Household ossession 42 000

Dividend received 2 500

Stereo e ui ment 4 250

Fuel, toll and arkin ex enses er month 300

Contribution er month 100

Home com uter and rinter 5 750

Stock 12 200

Clothin 7 000

Personal ex enses and recreation er month 250

Car loan 5 500

Television 4 500

Utilities bill er month 400

Unit trust investment 2 000

Other ex enses er month 500

4. Table 1 shows the list of the items for Siti for the month of June 2020. Siti needs to save for her staycation next year. She plans to at least have a saving of RM2 250 per month.

a) Based on the above information, help Siti to construct her income statement for June

2020. (8 Marks)

b) Did she manage to achieve her goals? Justify your answer. (2 Marks)

Answer 1

Solution:

a.). The table has been completed as below:

 

 

b.). Siti was not able to achieve her goal of saving RM2,250 since she made a huge loss of RM5,640, thus not able to save as required.