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Intro To Personal Finance Seminar Assignments - Projects 2-6

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Sandra Watson
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Project 2A: Financial Statements and Ratios

Harry and Sally Jones heard that you were taking the PFI/PFP 3301
course at Texas Tech University. Due to their limited knowledge in
personal finance they are in a desperate need of your help! They want to
know how well they are doing financially and how could they improve
their situation.
Based on information they provided to you:
1. Construct their Balance Sheet and their Cash Flow Statement.
2. Calculate their financial well-being through the use of Ratios.
3. Provide any recommendations if necessary.

Please show your work!
Suppose Daryl spontaneously decides to treat all his friends to pizza, drinks, and dessert
at a dine-in Italian place. He has already spent his excess cash from his paycheck so he
decides to put it on his credit card and pay for it later. The total cost for the pizza for his
group of friends including the tip is $149.45. His credit card has an interest rate of
21.99%. If he makes payments of $25 per month, how long it take him to pay for that
spontaneous purchase of pizza?

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Intro To Personal Finance (PFP 3301) Seminar Assignments - Projects 2-6

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