For each of the following situations, compute the missing amount. a. Assets $ 67,500 - Liabilities $ 15,500 = Net worth $ b. Assets $ 85,000 - Liabilities $ = Net worth $ 22,700 c. Assets $ 35,280 - Liabilities $ 13,215 = Net worth $ d. Assets $ - Liabilities $ 39,845 = Net worth $ 55,154

Question

Lennon Mcintosh

Business

9 August, 10:40

For each of the following situations, compute the missing amount. a. Assets $ 67,500 - Liabilities $ 15,500 = Net worth $ b. Assets $ 85,000 - Liabilities $ = Net worth $ 22,700 c. Assets $ 35,280 - Liabilities $ 13,215 = Net worth $ d. Assets $ - Liabilities $ 39,845 = Net worth $ 55,154

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Answers (1)

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Peck · Answer 1

a. Assets $ 67,500 - Liabilities $ 15,500 = Net worth $52,000

b. Assets $ 85,000 - Liabilities $62,300 = Net worth $ 22,700

c. Assets $ 35,280 - Liabilities $ 13,215 = Net worth $22,065

d. Assets $94,999 - Liabilities $39,845 = Net worth $ 55,154

Explanation:

Net worth of the business is the net value of assets after paying liabilities. It can be calculated by following formula

Net worth = Total Assets - Total Liabilities

a. Assets $ 67,500 - Liabilities $ 15,500 = Net worth $52,000

Net worth = Assets - liabilities = $67,500 - $15,500 = $52,000

b. Assets $ 85,000 - Liabilities $62,300 = Net worth $ 22,700

Net worth = Assets - liabilities

Liabilities = Assets - Net Worth

Liabilities = $85,000 - $22,700 = $62,300

c. Assets $ 35,280 - Liabilities $ 13,215 = Net worth $22,065

Net worth = Assets - liabilities = $35,280 - $13,215 = $22,065

d. Assets $94,999 - Liabilities $39,845 = Net worth $ 55,154

Net worth = Assets - liabilities

Assets = Net worth + liabilities

Assets = $39,845 + $55,154 = $94,999