Explain your steps and answer all of the questions

$12,000 18,000 AP-2A LO 25 Consider the following information for Julius Palanca Cash Jewellery Automobile House Credit Card Student Loan Mortgage 22.000 161,000 5,000 10,000 125,000 Required a) Calculate Julius's total assets. Financial Accounting in Your Personal Life Chapter 1 b) Calculate Julius's total liabilities. c) Calculate Julius's net worth AP-3A LO 25 Darryl purchased a new laptop on January 1, 2021, worth $2,000. He paid the entire amount using cash. He also purchased a new cell phone worth $300 on account. How will these transactions affect Darryl's net worth? AP-17A LO 5 7 8 10 The following information is available from Lily's financial records as at November 1, 2021. Cash $18,000 Furniture 3,100 Valuables & Electronics 3,200 House 255,000 Student Loans 39,000 Mortgage 100,000 Family Loan 2,000 Net Worth 138,300 Indicate whether the account balances will increase or decrease and by how much, based on each transaction. Always ensure the accounting equation is balanced. Provide an explanation only if net worth is affected. Transaction Assets = Liabilities + Net Worth Explanation 1. Purchased $1,600 worth of new bedroom furniture with cash 2. Won a tablet worth $800 as a raffle prize 3. $350 was taken from the bank account for a car rental payment 4. A family member accepted $2,000 worth of jewellery as repayment for the family loan 5. Made a $2,000 mortgage payment with cash, including $400 of interest 6. Paid $1,000 toward the student loans with cash, including $140 of interest 7. Salary earned of 54,800 was directly deposited to the bank account 800 AP-19A LO 578 Nicola Miller gathered the following personal accounting information but some of it was destroyed. Bicycle $700 Automobile 3,000 Cash Furniture Net Worth 3,350 Overdue Rent Television 500 Total Assets Unpaid Bills 2,300 2 6,100 Required a) How much is Nicola's furniture worth? b) How much rent does Nicola owe? Analysis +700 Chapter 1 Financial Accounting in Your Personal Life AP-16A LO 5 7 8 9 10 11 Indicate whether assets, liabilities or net worth will increase or decrease and by how much, based on each transaction. The first one has been done for you. Always ensure the accounting equation is balanced. Provide an explanation only if net worth is affected. Transaction Assets = Liabilities + Net Worth Explanation 1. Purchased a new television for $700 on + 700 credit 2. Received $2,000 in salary 3. Paid $1,200 cash for one year of insurance 4. Purchased a new $500 gaming console with cash 5. Paid for groceries with $80 cash 6. Paid $400 toward the car loan 7. Paid $30 interest on the car loan 8. Paid $600 toward unpaid bills 9. Used one month of insurance (from #3) AP-13A LO 3 10 Timothy Hollister collected the following amounts in cash for the month of February 2021. Salary paid by employer $2,400 Winnings at the casino $270 Gifts $295 Performance bonus paid by employer $450 Calculate Timothy's total revenue and total capital items for February 2021