Mark is a young business student at the Florida State University , who works part-time as a Accountant at the Bank of America . Mark has been married about two years. Mark’s wife is currently taking care of their new born son, while Mark finishes school. Mark is well liked by all those who know him. In fact, those who know Mark would describe him as outgoing, funny and very intelligent. At Bank of America Mark’s primary responsibility is to set up new accounts, make initial loan reviews and work as a Accountant. While at work, Mark always appears to be working hard, and rarely misses work (even for vacation). Oftentimes, Mark is the first one to volunteer to stay late and look over accounts or help clean up. Over the last four months, Mark’s Company supervisor noticed Mark make many interesting purchases. Four months ago, Mark purchased a an Iphone 14. One month ago, Mark bought three new wool suits, which he frequently wears to work. Two months ago, Mark traded in his old Benz for a Bentley (with many additional features). When asked where Mark was getting the money for these purchases, Mark humorously responds, “I guess people are right, when you die, you can’t take it all with you. However, it sure was nice they left it with me,” alluding to the fact that a wealthy grandmother had recently passed away and left Mark (her favourite grandson) a significant inheritance. Also, recently the supervisor heard some of the new customers complaining that their balances are off by $20, $30 and $50. 1. Assuming that the credit union decides to investigate further, calculate Mark’s net worth and income from other sources.
Mark is a young business student at the Florida State University , who works part-time as a Accountant at the Bank of America . Mark has been married about two years. Mark’s wife is currently taking care of their new born son, while Mark finishes school. Mark is well liked by all those who know him. In fact, those who know Mark would describe him as outgoing, funny and very intelligent.
At Bank of America Mark’s primary responsibility is to set up new accounts, make initial loan reviews and work as a Accountant. While at work, Mark always appears to be working hard, and rarely misses work (even for vacation). Oftentimes, Mark is the first one to volunteer to stay late and look over accounts or help clean up.
Over the last four months, Mark’s Company supervisor noticed Mark make many interesting purchases. Four months ago, Mark purchased a an Iphone 14. One month ago, Mark bought three new wool suits, which he frequently wears to work. Two months ago, Mark traded in his old Benz for a Bentley (with many additional features). When asked where Mark was getting the money for these purchases, Mark humorously responds, “I guess people are right, when you die, you can’t take it all with you. However, it sure was nice they left it with me,” alluding to the fact that a wealthy grandmother had recently passed away and left Mark (her favourite grandson) a significant inheritance.
Also, recently the supervisor heard some of the new customers complaining that their balances are off by $20, $30 and $50.
1. Assuming that the credit union decides to investigate further, calculate Mark’s net worth and income from other sources.
Nb: Attached file is tbe financial data for Mark
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