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2 months ago
6

Prepare a net worth statement for Ben Lingo based on this information: He owns a car worth $2,000, but owes $1,500 on it at the

bank. Ben has $150 in his savings and $82 in his checking account. His personal property inventory totals $1,200, and he also owes $80 to his credit union.
Business
1 answer:
Mariulka [3.8K]2 months ago
5 0
Answer: Ben Lingo's Net Worth Statement: Assets: Cash $82, Savings $150, Car $2,000, Inventory $1,200, Total Assets = $3,432. Liabilities: Car loan $1,500, Credit Union loan $80, Total Liabilities = $1,580. Net Worth = Total Assets - Total Liabilities = $3,432 - $1,580 = $1,852.
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