Answer to Question #281476 in Finance for suveetha

Question

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) Base…

Answer 1

Solution:

a.). Siti’s income statement for the month of June 2020 is as follows:

 

b.). No, Siti was not able to achieve her goals. This is because she made a net loss of 1,390, hence had no extra income to put into her savings as planned.