Mike and Mary Jane Lee have a yearly income of $71,428 and own a house worth $107,200, two cars worth a total of $26,119 and furniture worth $13,023. The house has a mortgage of $55,551 and the cars have outstanding loans of $3,646 each. Utility bills, totaling $276 for this month, have not been paid. The value of Mike and Mary Jane's total assets are $?. Round to the nearest dollar.
Mike and Mary Jane Lee have a yearly income of $71,428 and own a house worth $107,200, two cars worth a total of $26,119 and furniture worth $13,023. The house has a mortgage of $55,551 and the cars have outstanding loans of $3,646 each. Utility bills, totaling $276 for this month, have not been paid. The value of Mike and Mary Jane's total assets are $?. Round to the nearest dollar.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mike and Mary Jane Lee have a yearly income of $71,428 and own a house worth $107,200, two cars worth a total of $26,119 and furniture worth $13,023. The house has a mortgage of $55,551 and the cars have outstanding loans of $3,646 each. Utility bills, totaling $276 for this month, have not been paid.
The value of Mike and Mary Jane's total assets are $?. Round to the nearest dollar.
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