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16 November, 13:47

Based on the following data, determine the amount of total assets, total liabilities, and net worth. Liquid assets $ 4,770 Investment assets $ 9,240 Current liabilities $ 2,570Household assets $ 96,890Long-term liabilities $ 85,230

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  1. 16 November, 17:15
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    The amount of total assets, total liabilities, and net worth is $110,900, $87,800 and $23,100 respectively

    Explanation:

    The computation is shown below:

    Total assets = Liquid assets + Investment assets + Household assets

    = $4,770 + $9,240 + $96,890

    = $110,900

    Total liabilities = Current liabilities + Long-term liabilities

    = $2,570 + $85,230

    = $87,800

    And, the net worth would be

    = Total assets - Total liabilities

    = $110,900 - $87,800

    = $23,100
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