Help me I'm soo confused! Martha’s net worth is $35,000 and her liabilities total $9,500. Find the total of Martha’s assets. In your final answer, include your calculations.
Mathematics · Middle School · Tue Nov 03 2020
Answered on
Net worth is calculated by adding your assets and liabilities. Assets on the other hand is everything that you own that has economic value. While liability is something that you owe a person, company or government like debt, loans, taxes etc.
Since Martha's net worth is $35,000 and her liability is $9,500, to calculate for Martha's assets, add Martha's net worth and liability. Because liability is something that you owe, it is represented by “−” sign.
Asset = Net worth + liability
Asset = $35,000 + (−$9,500)
Asset = $25500
Therefore. Martha's asset is worth $25500.