Fred’s net worth is shown in the table below. Assets are positive numbers and liabilities are negative numbers. If Fred’s net worth is $74,000 how much does he owe in credit card debt? ItemValue XHouse (current value)$105,900|Checking AccountCredit Card Debt$375Vehicle (current value)Student Loans$13,500-$32,000Personal Loans-$800Savings Account$1,275

Net worth of the business means difference of assets and liabilities of the business.

Answered: Fred’s net worth is shown in the table…

Fred’s net worth is shown in the table below. Assets are positive numbers and liabilities are negative numbers. If Fred’s net worth is $74,000 how much does he owe in credit card debt?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Fred’s net worth is shown in the table below. Assets are positive numbers and liabilities are negative numbers. If Fred’s net worth is $74,000 how much does he owe in credit card debt?

Item
Value X
House (current value)
$105,900
|Checking Account
Credit Card Debt
$375
Vehicle (current value)
Student Loans
$13,500
-$32,000
Personal Loans
-$800
Savings Account
$1,275

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