63.2k views
3 votes
Bill’s farm has total assets of $250,000, and liabilities in the amount of $135,000. What is the total net worth of Bill’s farm? Responses $135,000 $250,000 $115,000 $385,000

User Josh Chiu
by
7.5k points

1 Answer

3 votes

Final answer:

The total net worth of Bill's farm is $115,000, which is calculated by subtracting the total liabilities of $135,000 from the total assets of $250,000.

Step-by-step explanation:

The net worth of Bill's farm can be calculated by subtracting the total liabilities from the total assets, which is a common approach used in determining a business's financial health.

Total Assets: $250,000
Total Liabilities: $135,000
Net Worth (Total Assets - Total Liabilities) = $250,000 - $135,000 = $115,000.

Therefore, the correct answer to the student's question "What is the total net worth of Bill's farm?" is $115,000.

User Realhu
by
7.8k points