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Vijay owns a house worth $250,000 with a mortgage of $150,000. He has $3,000 in stock investments and $1,700 in a checking account. He owns a piano worth $1,800. He also owns a car worth $18,000 and owes $6,000 in car loans. Vijay wants to create a net worth statement. What are Vijay’s total assets, liabilities, and net worth?

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Aliwohaish12
Hi there

Assets
house $250,000
car $18,000
piano $1,800
stock investments $3,000
checking account $1,700
Total assets. = $274,500

Liabilities
mortgage $150,000
car loans $6,000
Total liabilities = $156,000

Net worth
Assets - liabilities
274,500−156,000
=118,500

Hope it helps

Vijay’s total assets, liabilities, and net worth is $274,500, $156,000 and $118,500.

The calculation is as follows:

  • For assets

= House + car + piano + stock invetsment + checking account

= $250,000 + $1,800 + $3,000 + $1,700

= $274,500

  • For liabilities

= Mortgage +  car loans

= $150,000 + $6,000

= $156,000

  • Net worth is

= Assets - liabilities

= $274,500 - $156,000

= $118,500

Therefore,  vijay’s total assets, liabilities, and net worth are $274,500, $156,000 ,and $118,500.

Learn more: brainly.com/question/13848560

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