3 years ago

If you have your net worth and assets, how do you get your liabilities?

1 answer:

6 0

Net worth is derived by subtracting liabilities from assets.

Net worth = Asset - Liabilities

Based from the above formula:

Asset = Liabilities + Net Worth

Liabilities = Asset - Net Worth

Liabilities = 15640 - 9456
Liabilities = 6184

Assets are your investments, properties, or any other income generating properties and activities

Liabilities are your debts and other accounts payable

Net worth is the net value of assets less liabilities

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