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Jack and Hilda Gibson, Net Worth Analysis Assignment
Assignment: Jack Gibson does bookkeeping for several companies in Driggs, Idaho. He keeps the books for a plumbing contractor, a local hardware and building supply store as well as several well-do clients such as the local doctors and owners of organic food store.
Question 1. What is Jack and Gilda's Simple Net worth as of 12/31/2019? (Jack's income: $190,000; Gilda's income is $75,000)
Question 2. Use the templates provided and the indirect method of net worth analysis to determe whether Jack and Gilda have received money from Ilegitimate sources, if so, how much?
Question 3. How might they defend themselves from a charge of having money from llegitimate sources?
Question 4. Explain how you arive at your family expenditure number
Bank
Interest Earned 2019
Balance as of
12/31/2018
12/31/2019
OtiBank
$450 00
$20.20000
57.892 00
Wells Fargo Bank
$256 00
$0.00
$15.678 00
Chase Bank
$128 00
52.562 00
$000
Bank of America
$202 00
$4.590 00
512.789 00
Chicago City Bank
$154.00
53.679.00
50.00
'Investments:
Account Number
Market Value as of 12/31/2018
Market Value as of
Added to account during 2019 by Gibsons
TD Amentrade (trading portfolio)
974
545.621 001 565.892 00
510,251 40
Edward Jones (Money Market Fund)
2365
515,250 001 538.754 00, 55,206 70
Property owned:
Address
Original Cost
Rental Income 2019( per month)
41 State Line Road, Drms, ID
$500,000.00
5545,000.00
5550.000.00
256 Northshore Drive 44500, Chicago. il.
5130,000.00
$131,000.00
5149.030 00
800
385 Little Ave., Digits, ID (rental)
5120,500.00
5122,500.00
5132.000.00
700
152 Barnes Street, Tetonia, ID (farm)
$80,000.00
$85,000.00
5120.030 00
750
200 Valley View Road, Victor, ID (farm)
$90,000.00
$92,000.00
5102.000.00
650
300 Three Peaks Rd, Driggs, ID (rental) Purchased and rented Oct 1, 2019
5280,000 00
50,00
5292.000 00.
950
Attachment:- jack.rar
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