Question

Vijay owns a house worth $250,000 with a mortgage of $150,000. He has $3,000 in stock investments and $1,700 in a checking account. He owns a piano worth $1,800. He also owns a car worth $18,000 and owes $6,000 in car loans. Vijay wants to create a net worth statement. What are Vijay’s total assets, liabilities, and net worth?

Answer 1

Hi there

Assets
house $250,000
car $18,000
piano $1,800
stock investments $3,000
checking account $1,700
Total assets. = $274,500

Liabilities
mortgage $150,000
car loans $6,000
Total liabilities = $156,000

Net worth
Assets - liabilities
274,500−156,000
=118,500

Hope it helps

Answer 2

Answer:

assets = $274,500   liabilities = $156,000  Net Worth = 118,500

Step-by-step explanation: