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The following is a partial balance sheet for Jim and Jane Huang. Complete the balance sheet by determining their total assets, total current liabilities,
The following is a partial balance sheet for Jim and Jane Huang. Complete the balance sheet by determining their total assets, total current liabilities, long-term liabilities, and net worth. Balance Sheet Name(s): Jim and Jane Huang Date: December 31, 2012 Assets Liabilities and Net Worth Liquid Assets Current Liabilities Cash $221.10 Electric $437.93 Checking 243.21 Water 187.68 Savings 276.38 Insurance premiums 312.81 Total Liquid Assets: $740.69 Taxes Mortgage 1,050.00 777.78 Investments Retirement funds, $1,063.13 IRA Total Investments: Real Property Primary residence $151,200.00 Auto MasterCard $1,063.13 Total Current Liabilities: 938.42 813.29 Long-Term Liabilities Primary residence $37,333.44 mortgage $151,200.00 Total Long-Term Liabilities: Total Real Property: Personal Property Honda Pilot $11,247.50 Total Personal Property: $11,247.50 (1) Total Assets: (2) Total Liabilities: $ $ Net Worth (1) - (2): $ Total Liabilities and $ Net Worth:
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