Understanding Net Worth Answers

Enzo’s balance sheet for the month of July is shown. Enzo’s Balance Sheet (July 2013)AssetsLiabilitiescash$600credit card$4,000investments$500student loan$2,500house$120,000mortgage$80,000car$6,000car loan$2,000Total$127,100Total$88,500Which expression finds Enzo’s net worth?

Carrie is creating a personal balance sheet. The heading includes the period of time that the balance sheet represents. Which could be the heading of Carrie’s balance sheet?

Rita does chores for her neighbors and makes $45 each weekend. She owes her sister $80. Rita has $178 in coins and a collection of baseball cards worth $475.Which is a liability?

Colin listed his assets and liabilities on a personal balance sheet. Colin’s Balance Sheet (August 2013)AssetsLiabilitiescash$1,500credit card$500stocks$800rent$800car$5,000car loan$1,200coin collection$1,200student loan$5,000Total Total Which statement is true about the total assets and the total liabilities?

Brenda created this personal balance sheet. Brenda’s Balance Sheet AssetsLiabilitiesjewelry food wages health insurance commission rent bank account tips Total Total Brenda says her assets are definitely greater than her liabilities. Which explains whether Brenda is correct?

Paige’s income statement for the month of December is shown. What is Paige’s net income for December?

Anna is creating a personal balance sheet. She plans to list these items.Bank AccountJewelryHealth InsuranceRentWhich statements about the balance sheet are correct? Select three choices.

Mr. Morgan earns $38,000 a year as a salesperson and a 5% commission on all his sales. He has a mortgage of $910 a month and pays $175 a month for utilities. Mr. Morgan owns a rental property for which he receives $680 per month.Which is a liability?

Keisha owns a house worth $275,000 with a mortgage of $195,000. She owns a car worth $12,000 and has $7,500 in car loans. She has $3,000 in investments, $2,700 in a bank account, and owes $1,500 on a credit card. What is Keisha’s net worth?

Tricia listed her assets and liabilities. Credit Card BillCar LoanBondsPianoBank AccountBicycleWhich are Tricia’s liabilities? Select two choices..