Answered

Consider Jasper's balance sheet:

[tex]\[
\begin{tabular}{|l|r|l|r|}
\hline \multicolumn{2}{|c|}{\textbf{Assets}} & \multicolumn{2}{c|}{\textbf{Liabilities}} \\
\hline Cash & \$1,100 & Credit card & \$500 \\
\hline Investments & \$2,300 & Rent & \$900 \\
\hline Car & \$12,000 & Car loan & \$3,000 \\
\hline Guitar & \$400 & & \\
\hline \textbf{Total} & \$15,800 & \textbf{Total} & \$4,400 \\
\hline
\end{tabular}
\][/tex]

Which shows how to calculate Jasper's net worth?

A. \[tex]$4,400 - \$[/tex]15,800 = -\[tex]$11,340
B. \$[/tex]15,800 + \[tex]$4,400 = \$[/tex]20,260
C. \[tex]$15,800 - \$[/tex]4,400 = \[tex]$11,400
D. \$[/tex]20,260 - \[tex]$15,800 = \$[/tex]4,400



Answer :

GinnyAnswer
To determine Jasper's net worth, we need to evaluate the difference between his total assets and his total liabilities.

In this balance sheet, Jasper’s total assets are listed as [tex]$15,800 and his total liabilities as $[/tex]4,400.

Net worth is calculated as follows:
[tex]\[ \text{Net Worth} = \text{Total Assets} - \text{Total Liabilities} \][/tex]

Substituting the given values:
[tex]\[ \text{Net Worth} = \$15,800 - \$4,400 \][/tex]

This simplifies to:
[tex]\[ \text{Net Worth} = \$11,400 \][/tex]

Thus, Jasper's net worth is [tex]\(\$11,400\)[/tex].

The correct option is:
[tex]\[\$ 15,800 - \$ 4,400 = \$ 11,400\][/tex]

Other Questions