Understanding Net Worth

Omar's income statement for the month of October is shown. What is Omar's net income for October?

$1,500

Aisha's income statement for the month of June is shown. Which expression will find Aisha's net income for June?

$2,700 - $1,300

Keisha owns a house worth $275,000 with a mortgage of $195,000. She owns a car worth $12,000 and has $7,500 in car loans. She has $3,000 in investments, $2,700 in a bank account, and owes $1,500 on a credit card. What is Keisha's net worth?

$88,700

Paige's income statement for the month of December is shown. What is Paige's net income for December?

$950

Brenda created this personal balance sheet. Brenda says her assets are definitely greater than her liabilities. Which explains whether Brenda is correct?

Brenda is not correct because the total value of her assets could be less than the liabilities.

Dante listed his assets and liabilities on a personal balance sheet. Which statement is true about the value of Dante's assets and liabilities?

He has $50,000 more in assets than in liabilities.

Julio has a house worth $220,000. He has a $175,000 mortgage. Julio says that in this situation, his asset is really only $45,000. Which statement explains whether Julio is correct?

Julio is correct because the $45,000 equity in the house is the real asset.

Colin listed his assets and liabilities on a personal balance sheet. Which statement is true about the total assets and the total liabilities?

The total of the assets is greater than the total of the liabilities.

Tricia listed her assets and liabilities. Credit Card Bill Car Loan Bonds Piano Bank Account Bicycle Which are Tricia's liabilities? Check all that apply.

credit card bill car loan

Rita does chores for her neighbors and makes $45 each weekend. She owes her sister $80. Rita has $178 in coins and a collection of baseball cards worth $475. Which is a liability?

the money she owes her sister