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11 November, 16:45

Based on the following data, determine the amount of total assets, total liabilities, and net worth. Liquid assets$3,870Investment assets$8,340Current liabilities$2,670Household assets$87,890Long-term liabilities$76,230

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  1. 11 November, 20:17
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    Total Assets = $100,100

    Total Liabilities = $78,900

    Net Worth = $21,200

    Explanation:

    Use the Accounting Equation : Equity = Assets - Liabilities to determine the Equity or Net Worth of the Company.

    Here is what the Balance Sheet would look like:

    Non Current Assets

    Investment assets $8,340

    Household assets $87,890

    Current Assets

    Liquid assets $3,870

    Total Assets $100,100

    Equity and Liabilities

    Equity

    Equity (Balancing figure) $21,200

    Total Equity $21,200

    Non Current Liabilities

    Long-term liabilities $76,230

    Current Liabilities

    Current liabilities $2,670

    Total Liabilities $78,900
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Home » Business » Based on the following data, determine the amount of total assets, total liabilities, and net worth. Liquid assets$3,870Investment assets$8,340Current liabilities$2,670Household assets$87,890Long-term liabilities$76,230
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