Question: 4. Balance sheet - Net worth and interpreting the data The following is a partial balance sheet for Mark and Pam Sigo. Complete the balance

4. Balance sheet - Net worth and interpreting the
4. Balance sheet - Net worth and interpreting the data The following is a partial balance sheet for Mark and Pam Sigo. Complete the balance sheet by determining their total assets, total current liabilities, onn-term liabilities. and net worth. Balance Sheet Name(s): Mark and Pam Sigo Date: December 31, 2012 Asset Liabilities and Net Worth Liquid Assets Current Liabilities Cash $195.75 Electric $481.80 Checking 215.33 Water 206.49 Savings 244.69 Insurance premiums 344.15 Total Liquid Assets: $655.77 Taxes 1,012.50 Mortgage 750.00 Investments Auto 1,032.44 Retirement funds, $1,063.13 MasterCard 894.78 IRA Total Investments: $1,063.13 Total Current Liabilities: Real Property Long-Term Liabilities Primary residence $145,800.00 Primary residence $36,000.00 mortgage Total Real $145,800.00 Total Long-Term Property: Liabilities: Personal Property Honda Pilot $11,000.00 Total Personal $11,000.00 Property (2) Total Liabilities: (1) Total Net Worth (1) - (2): Assets: Total Liabilities and Net Worth: Based on the completed balance sheet, the Sigos' net worth is $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!