Diana Personal Finance Mini Case Study Accounting Assignment Help

Assignment Task

Task
Diana is a 50?year old school teacher with 27 years’ full?time experience in secondary education. Diana had a gross income from employment of $107,224 for the 2020?2021 financial year. Diana is a member of a teacher’s union and paid 1% ($1,072.24) of her wages in union fees for the 2020?2021 year. Diana is single. Diana’s assets include her two?bedroom inner?city apartment, which is valued at $730,000, a car valued at $31,500, furniture and other personal effects valued at $86,500, a term deposit account with a balance of $22,500, earning $168.75 in interest for the 2020?2021 year, and a superannuation account balance of $565,625. Diana contributes a required seven per cent of her annual salary towards superannuation, which also receives a contribution equivalent to 12.5 per cent of her salary from her employer, the state government (also the fund sponsor). Diana’ssuperannuation provides her with life insurance of $350,000, which is included as part of the term life and total and permanent disability cover provided within the fund. The beneficiary of Diana’s policy is her 77?year old mother, who also lives with Diana. Diana’s mother is in receipt of a full aged pension, which is her only source of income. Diana’s mother has limited assets, these being represented in a small amount of furniture and her personal effects (valued at $47,000). Diana’s liabilities include a mortgage against her apartment of $285,000, with 20 years remaining term and current monthly payments of $1,652.89, a car loan on which she owes a remaining $10,000 over the next 36 months with monthly repayments set at $308.32, and a credit card, which currently has a debit balance of $2,955. As of the end of 2020?2021 she also had a remaining HELP debt of $5,325 as a result of just completing studies towards her Master of Teaching.
 

This Accounting Assignment has been solved by our Accounting Experts at onlineassignmentbank.Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.
    
Be it a used or new solution, the quality of the work submitted by our assignment Experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.