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BALANCE SHEET, DECEMBER 31, 2022 ASSETS Real Properties Php3,000,000.00 - House and Lot Php3,000,000.00 Personal Properties 2,500,000.00 - Car (SUV) 1,650,000.00 - Furniture 250,000.00 -

BALANCE SHEET, DECEMBER 31, 2022

ASSETS
Real Properties Php3,000,000.00
- House and Lot Php3,000,000.00
Personal Properties 2,500,000.00
- Car (SUV) 1,650,000.00
- Furniture 250,000.00
- Jewelry 600,000.00
- Cash Savings 500,000.00
TOTAL ASSETS Php6,000,000.00
LIABILITIES
- Housing Loan 2,886,000.00
- Car Loan 1,416,000.00
- Credit Card 310,000.00
TOTAL LIABILITIES Php4,612,000.00
NET WORTH Php1,388,000.00

QUESTION:

  1. What does the balance sheet show about your financial situation at this moment in time?

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