Question

Shelly’s assets include money in checking and savings accounts, investments in stocks and mutual funds, and personal property, including furniture, appliances, an automobile, a coin collection, and jewelry. Shelly calculates that her total assets are $117,600. Her current unpaid bills, including an auto loan, credit card balances, and taxes total $21,100. Calculate Shelly’s net worth

Answer 1

$96500

Step-by-step explanation:

Given that

Asset = 117600

Liabilities = 21100

Recall that

Networth = Total asset - total liability

Thus,

Shelby networth = 117600 - 21100

= $96,500

Therefore, Shelby's networth is $96500

Note that, Networth also referred to as shareholder equity is the total value of asset an individual or an organization owns less the amount of liabilities or money owed.