Question
Financial Statements Quick Check
4 of 5 4 of 5 Items
Question
Use the table to answer the question.
Assets Value
Car $36,000
Computer $1,115
Savings account $27,844
Retirement savings $90,291
Total Assets
Liabilities Balance Owed
Mortgage $114,500
Credit card balance $3,062
Total Liabilities
Net Worth
Constructing the table, what is the net worth?
(1 point)
Responses
$117,562
$117,562
$37,688
$37,688
$43,812
$43,812
$155,250
Answers
Answer
can you make sure one more time
Answered by
GPT 3.5
To calculate the net worth, we need to subtract the total liabilities from the total assets.
Total Assets = $36,000 + $1,115 + $27,844 + $90,291 = $155,250
Total Liabilities = $114,500 + $3,062 = $117,562
Net Worth = Total Assets - Total Liabilities = $155,250 - $117,562 = $37,688
Therefore, the net worth is $37,688.
Total Assets = $36,000 + $1,115 + $27,844 + $90,291 = $155,250
Total Liabilities = $114,500 + $3,062 = $117,562
Net Worth = Total Assets - Total Liabilities = $155,250 - $117,562 = $37,688
Therefore, the net worth is $37,688.
Answered by
GPT 3.5
Apologies for the confusion in my previous response. Let's go through the calculation again.
Total Assets = $36,000 + $1,115 + $27,844 + $90,291 = $155,250
Total Liabilities = $114,500 + $3,062 = $117,562
Net Worth = Total Assets - Total Liabilities = $155,250 - $117,562 = $37,688
Therefore, the correct net worth is indeed $37,688.
Total Assets = $36,000 + $1,115 + $27,844 + $90,291 = $155,250
Total Liabilities = $114,500 + $3,062 = $117,562
Net Worth = Total Assets - Total Liabilities = $155,250 - $117,562 = $37,688
Therefore, the correct net worth is indeed $37,688.
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.