Solved

Cynthia Coleman Is Reviewing Her Assets and Liabilities

Question 170

Short Answer

Cynthia Coleman is reviewing her assets and liabilities.What is her net worth?
Assets:
Cash in checking account,$1,000
Cash in savings account,$2,800
Current value of Investments in U.S.savings bonds,$4,000
Current value of Investments in stocks & mutual funds,$9,700
Current cash value of life insurance,$7,300
Current value Accrued pension benefit,$25,000
Current value of house,$155,000
Current value of furniture and appliances,$8,000
Current value of Jewelry,$600
Current value of automobile,$7,200
Liabilities:
Current unpaid bills,$800
Home mortgage unpaid balance,$100,000
Auto loan unpaid balance,$3,200
Property Taxes owed,$1,000
Home improvement loan balance,$1,200

Correct Answer:

verifed

Verified

Gross assets (220,60...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents