rosetta listed her assets and liabilities on a personal balance sheet. rosettas balance sheet (april 2013)…

rosetta listed her assets and liabilities on a personal balance sheet. rosettas balance sheet (april 2013) assets cash investments house car total $900 $1,100 $150,000 $8,000 liabilities credit card student loan mortgage car loan total $4,000 $2,000 $100,000 $5,000 if 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 cash investments house car total $900 $1,100 $150,000 $8,000 liabilities credit card student loan mortgage car loan total $4,000 $2,000 $100,000 $5,000 if 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: Calculate total liabilities

Add up all liabilities: $4000 + 2000+100000 + 5000=$111000$

Step2: Determine house - related net amount

The value of the house is $$150000$. Subtract the mortgage amount from the house value to find the net amount from the house sale for Rosetta. Net amount from house sale = House value - Mortgage = $150000 - 100000=$50000$

Answer:

$50000$