rosetta listed her assets and liabilities on a personal balance sheet.rosettas balance sheet (april…

rosetta listed her assets and liabilities on a personal balance sheet.rosettas balance sheet (april 2013)assets liabilitiescash $900 credit card $4,000investments $1,100 student loan $2,000house $150,000 mortgage $100,000car $8,000 car loan $5,000total totalif rosetta sells her house and pays off the mortgage, how much should she receive (assuming there are no other costs associated with selling the house)?$42,000$50,000$52,000$60,000

rosetta listed her assets and liabilities on a personal balance sheet.rosettas balance sheet (april 2013)assets liabilitiescash $900 credit card $4,000investments $1,100 student loan $2,000house $150,000 mortgage $100,000car $8,000 car loan $5,000total totalif rosetta sells her house and pays off the mortgage, how much should she receive (assuming there are no other costs associated with selling the house)?$42,000$50,000$52,000$60,000

Answer

Explanation:

Step1: Identify house value

The value of Rosetta's house is $$150,000$.

Step2: Identify mortgage amount

The mortgage liability is $$100,000$.

Step3: Calculate net proceeds

Subtract mortgage from house value: $$150,000 - $100,000 = $50,000$

Answer:

$50,000 (Option B: $50,000)