Question

Net Worth Statement Assets House (current value) Checking account Automobile Investments Total Assets Value $85,000 $2,500 $18,500 $7,000 $113,000 Llabilities Mortgage Credit card debt Total Liabilities $62,000 $9,500 $71,500 Based on the information in the statement, what is Phillip's net worth? A $184,500B $41,500 C $71,500D $41,500

Answer 1

Value of total assests is ;

$85,000 +$2,500 +$18,500 +$7000=$113,000

Value of total liabilities = $62,000 + $9,500 = $71,000

Net worth = $ 113,000-$71,500 =$41,500