Question

Megan Finder, a recent college graduate, is applying for her first credit card. The creditor has asked for a personal net worth statement. Megan owns a scooter worth $2,000.00 and has $800.00 in her checking account. She owes Jaycee Auto $920.00 and River College $125.00. Complete a net worth statement for Megan Finder.

Answer 1

Personal net worth means difference between assets and liabilities.

Given assets are scooter worth $2000, $800 in her checking account.

So total assets = 2000+800 = $2800

And liabilities are which are owed that is $920 and $125.

So total liabilities = 920+125 = $1045

Net worthy = 2800 - 1045 = $1755