delta innovations assets and liabilities\ndelta innovations inc. provides it consulting and software…

delta innovations assets and liabilities\ndelta innovations inc. provides it consulting and software development services. to determine its net worth, the business needs to categorize its financial components into assets and liabilities.\nassets and liabilities\n• software licenses: $80,000\n• cash: $25,000\n• accounts payable: $50,000\n• office supplies: $10,000\n• equipment: $100,000\n• salaries payable: $20,000\n• accounts receivable: $60,000\n• bank loan: $150,000\nin the delta innovations inc. scenario, calculate the net worth\nthe net worth is $

delta innovations assets and liabilities\ndelta innovations inc. provides it consulting and software development services. to determine its net worth, the business needs to categorize its financial components into assets and liabilities.\nassets and liabilities\n• software licenses: $80,000\n• cash: $25,000\n• accounts payable: $50,000\n• office supplies: $10,000\n• equipment: $100,000\n• salaries payable: $20,000\n• accounts receivable: $60,000\n• bank loan: $150,000\nin the delta innovations inc. scenario, calculate the net worth\nthe net worth is $

Answer

Explanation:

Step1: Calculate total assets

Assets = Software licenses + Cash + Office supplies + Equipment + Accounts receivable Assets = (80000 + 25000+10000 + 100000+60000) Assets = (275000)

Step2: Calculate total liabilities

Liabilities = Accounts payable + Salaries payable + Bank loan Liabilities = (50000+20000 + 150000) Liabilities = (220000)

Step3: Calculate net worth

Net worth = Assets - Liabilities Net worth = (275000-220000) Net worth = (55000)

Answer:

(55000)