Organizations calculate their financial net worth in order to show their financial health

Directions

• Step 1: Create a list all your personal assets and liabilities. You should list all your personal assets and liabilities. You should list at least 3-5 assets and 3-5 liabilities. Make sure to note if your asset and liability is a long-term or short-term asset and liability.
• Step 2: Once you have all your assets and liabilities listed and identified as long or short-term, determine the value of each asset and liability.
• Step 3: Using the information from your textbook and the personal Net Worth information from theCharles Swab personal net worth webpage, calculate your personal net worth. The formula for calculating net worth is below:

Assets - Liabilities = Net Worth