Patricia McDonald has determined that the value of her liquid assets is $4,200, the value of...
Patricia McDonald has determined that the value of her liquid assets is $4,200, the value of her real estate is $134,000, the value of her personal possessions is $55,000, and the value of her investment assets is $72,000. She has also determined the value of her current liabilities is $6,800 and the value of her long-term liabilities is $89,000. What is Patricia's net worth?
Homework Answers
Total assets = $4,200 + 134,000 + 55,000 + 72,000 = $265,200
Total liabilities = $6,800 + 89,000 = $95,800
Net worth = Total assets - Total liabilities = $265,200 - $95,800 = $169,400
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