Question

For each of the following situations, compute the missing amount. a. Assets $71,700 − Liabilities $16,600...

For each of the following situations, compute the missing amount.

a. Assets $71,700 − Liabilities $16,600 = Net worth
b. Assets $90,500 − Liabilities = Net worth $24,900
c. Assets $37,480 − Liabilities $13,765 = Net worth
d. Assets − Liabilities $40,245 = Net worth $58,554
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Answer #1

a.

Assets = $71,700

Liabilities = $16,600

Net worth = Assets - Liabilities

= 71,700-16,600

= $55,100

b.

Assets = $90,500

Net worth = Assets - Liabilities

24,900 = 90,500- Liabilities

Liabilities = $65,600

c.

Assets = $37,480

Liabilities = $13,765

Net worth = Assets - Liabilities

= 37,480-13,765

= $23,715

d.

Liabilities = $40,245

Net worth = Assets - Liabilities

58,554= Assets- 40,245

Assets= $98,799

a. Assets $71,700 − Liabilities $16,600 = Net worth $55,100
b. Assets $90,500 − Liabilities $65,600 = Net worth $24,900
c. Assets $37,480 − Liabilities $13,765 = Net worth $23,715
d. Assets $98,799 − Liabilities $40,245 = Net worth $58,554
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