QuestionFebruary 1, 2026

Home- 110,000 Checking Account- 559 Stocks- 12,000 Bonds- 15,000 Cash- 55 Rental Property- 24,000 Cars- 16,400 Furniture- 13,000 Savings Account- 4,000 Credit Card Balance: 1,285 Mortgage: 83,600 Student Loans: 44,000 Car loan: 9,750 ATV loan (8 months): 1,500 1. What is the value of the assets? 3. What is the net worth? 2. What is the value of the liabilities?

Home- 110,000 Checking Account- 559 Stocks- 12,000 Bonds- 15,000 Cash- 55 Rental Property- 24,000 Cars- 16,400 Furniture- 13,000 Savings Account- 4,000 Credit Card Balance: 1,285 Mortgage: 83,600 Student Loans: 44,000 Car loan: 9,750 ATV loan (8 months): 1,500 1. What is the value of the assets? 3. What is the net worth? 2. What is the value of the liabilities?
Home- 110,000
Checking Account- 559
Stocks- 12,000
Bonds- 15,000
Cash- 55
Rental Property- 24,000
Cars- 16,400
Furniture- 13,000
Savings Account- 4,000
Credit Card Balance: 1,285
Mortgage: 83,600
Student Loans: 44,000
Car loan: 9,750
ATV loan (8 months): 1,500
1. What is the value of the assets?
3. What is the net worth?
2. What is the value of the liabilities?

Solution
4.0(220 votes)

Answer

1. 195,014 ### 2. 140,135 ### 3. 54,879 Explanation 1. Add all asset values Assets: 110,000 + 559 + 12,000 + 15,000 + 55 + 24,000 + 16,400 + 13,000 + 4,000 = 195,014 2. Add all liability values Liabilities: 1,285 + 83,600 + 44,000 + 9,750 + 1,500 = 140,135 3. Subtract liabilities from assets for net worth Net Worth: 195,014 - 140,135 = 54,879

Explanation

1. Add all asset values<br /> Assets: $110,000 + 559 + 12,000 + 15,000 + 55 + 24,000 + 16,400 + 13,000 + 4,000 = 195,014$<br />2. Add all liability values<br /> Liabilities: $1,285 + 83,600 + 44,000 + 9,750 + 1,500 = 140,135$<br />3. Subtract liabilities from assets for net worth<br /> Net Worth: $195,014 - 140,135 = 54,879$
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