megan finder, a recent college graduate, is applying for her first credit card. the creditor has asked for a…

megan finder, a recent college graduate, is applying for her first credit card. the creditor has asked for a personal net - worth statement. megan owns a scooter worth $1,200.00 and has $800.00 in her checking account. she owes jaycee auto $920.00 and river college $125.00. complete a net worth statement for megan finder. select current date in the appropriate field. assets should be listed in order of liquidity, so cash should be listed first. liabilities should be reported in alphabetic order.

megan finder, a recent college graduate, is applying for her first credit card. the creditor has asked for a personal net - worth statement. megan owns a scooter worth $1,200.00 and has $800.00 in her checking account. she owes jaycee auto $920.00 and river college $125.00. complete a net worth statement for megan finder. select current date in the appropriate field. assets should be listed in order of liquidity, so cash should be listed first. liabilities should be reported in alphabetic order.

Answer

Explanation:

Step1: Identify assets

Cash in checking account is $800 and value of scooter is $1,200. Total assets = $800 + $1,200. $800+1200 = 2000$

Step2: Identify liabilities

Owes Jaycee Auto $920 and River College $125. Total liabilities = $920 + $125. $920 + 125=1045$

Step3: Calculate net - worth

Net - worth = Total assets - Total liabilities. $2000-1045 = 955$

Answer:

Megan Finder's net - worth is $955. Assets: Cash in checking account: $800, Scooter: $1200. Liabilities: Jaycee Auto: $920, River College: $125.