Question
Rent for the month $950 Monthly take-home salary $2,485 Spending for food $495 Cash in checking account $510 Savings account balance $1,950 Balance of educational
Rent for the month $950 Monthly take-home salary $2,485
Spending for food $495 Cash in checking account $510
Savings account balance $1,950 Balance of educational loan $2,520
Current value of automobile $9,400 Telephone bill paid for month $95
Credit card balance $265 Loan payment $140
Auto insurance $290 Household possessions $4,000
Video equipment $2,500 Payment for electricity $120
Lunches/parking at work $210 Donations $220
Personal computer $1,500 Value of stock investment $1,010
Clothing purchase $140 Restaurant spending $160
1) What is the total assets?
2) What is the total liabilities?
3) What is total net worth?
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