500
Andy is developing an Income and Expense Statement. He has gathered all his receipts, bank statements,
paycheck stubs, and spending records. He needs to categorize them into income and expenses. He is unsure
which of the following items should be recorded as expenses. Which should be recorded as expenses?
A.
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car
insurance
B.
Money saved from his paycheck for emergencies, interest paid on his car loan, his tax refund from filing
last year’s tax return
C.
The scholarship he receives for studying Chinese at the local community college, his car insurance
payment, and stock dividends he received from his grandmother
D.
Clothing he purchased for a job interview, tuition for a class he is taking at the local community college,
and interest from his savings account
What is A.
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car
insuran