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Chris owns an auto valued at $10,000, has credit card debt of $1900, cash of $2000 and a checking account of $3000. She has an
Chris owns an auto valued at $10,000, has credit card debt of $1900, cash of $2000 and a checking account of $3000. She has an unpaid electric bill of $100. Draw her balance sheet and calculate her initial net worth. In each part below, show the changes on her balance sheet and her net worth for the specific transaction. Indicate whether each transaction involves savings. 1. From her salary, Chris buys a share of Amazon worth $3000. 2. Chris writes a check to pay off her electric bill (ignore transaction in part a) 3. Chris notices her car has been recognized as a classic with a market value of $15,000 (ignoring transactions in part a and part b)
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