Understanding Net Worth

Enzo's balance sheet for the month of July is shown. Enzo's Balance Sheet (July 2013) Which expression finds Enzo's net worth?

$127,100 - $88,500

Rosetta listed her assets and liabilities on a personal balance sheet. If Rosetta sells her house and pays off the mortgage, how much should she receive (assuming there are no other costs associated with selling the house)?

$50,000

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

Amala listed her assets and liabilities. What is the total of her liabilities?

3,350

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

Anna is creating a personal balance sheet. She plans to list these items. Bank Account Jewelry Health Insurance Rent Which statements about the balance sheet are correct? Check all that apply.

Health insurance, and rent are listed in the liabilities column of the balance sheet. Anna will find the total value of her jewelry and bank account. She will subtract the value of the assets and the value of the liabilities.

Roberto listed his assets and liabilities on a personal balance sheet. After creating the balance sheet, Roberto decided to use his investments to pay off his car loan. How will that decision affect the difference between his assets and liabilities?

The difference between the assets and the liabilities will remain the same.

Mr. Morgan earns $38,000 a year as a salesperson and a 5% commission on all his sales. He has a mortgage of $910 a month and pays $175 a month for utilities. Mr. Morgan owns a rental property for which he receives $680 per month.

the mortgage

Lenora is a college student with a student loan of $7,500. Her tuition is $3,200 per year. She owns $470 worth of text books and a has a laptop computer worth $950. She also has a meal plan at school for which she pays $250 per month. Which is one of Lenora's assets?

the text books