To find the total balance of liabilities, we subtract the net worth from the total assets.
Total liabilities = Total assets - Net worth
Total liabilities = $45,000 - $25,000
Total liabilities = $20,000
Therefore, the total balance of liabilities is $20,000.
Given $45,000 worth of total assets and a net worth of
$25,000, what is the total balance of liabilities?
(1 point)
$20,000
$70,000
$15,000
−$20, 000
1 answer