Answer:
Balance available on hand at month-end is $1,750
Explanation:
Monthly gross salary= $6,250 ($75,000 / 12 month)
Less: Payroll Taxes <u>$1,250</u> ($6,250 * 20%)
Net Monthly salary $5,000
Add: Monthly Consultancy Income <u>$100</u>
Monthly income available on hand <u>$5,150 $5,150</u>
Less: Monthly Car note $350
Monthly Car gas $50
Monthly mortgage $850
Monthly Health insurance $400
Monthly food spending $300
Monthly student loan payment $300
Monthly credit card payable $1,100
Total deductions <u>$3,350 $3,350</u>
Balance available on hand at month-end <u>$1,750</u>