Assets, Liabilities & Net Worth

Front

Which of these is an asset? Balance/amount of money in my checking account, Student loan debt, Credit card bill due next month, Remaining balance on home mortgage

Back

Balance/amount of money in my checking account

Front

Which of these is a liability? 401k investments, Picasso painting hanging on my wall at home, Savings account at Associated Bank, Amount due on car loan

Back

Amount due on car loan

Front

Based on these amounts, calculate this person's net worth: checking account balance $1,500, savings account balance $10,000, student loan debt $4,000.

Back

$7,500