Jerry has assets of $200 000, a net worth of $150 000, and an annual income of $50 000. What are Jerry's liabilities?

Question

Quizplus · Accepted Answer

Jerry's liabilities can be calculated using the formula:

Assets - Liabilities = Net Worth

Substituting the given values, we get:

$200,000 - Liabilities = $150,000

Solving for Liabilities:

Liabilities = $200,000 - $150,000 = $50,000

Therefore, Jerry's liabilities are $50,000.

Jerry Has Assets of $200 000, a Net Worth of $150