Patricia McDonald has determined that the value of her liquid assets is $4,500,the value of her real estate is $135,000,the value of her personal possessions is $58,000,and the value of her investment assets is $72,000.She has also determined the value of her current liabilities is $7,500 and the value of her long term liabilities is $98,000.What is Patricia's net worth?

Question

Quizplus · Accepted Answer

Patricia's net worth is calculated by subtracting her total liabilities from her total assets. Total assets = $4,500 (liquid) + $135,000 (real estate) + $58,000 (personal possessions) + $72,000 (investment) = $269,500. Total liabilities = $7,500 (current) + $98,000 (long-term) = $105,500. Net worth = $269,500 - $105,500 = $164,000.

Patricia McDonald Has Determined That the Value of Her Liquid