The application indicated that as of July 1, 2017, $24,600 was owed on the truck and $14,100

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The application indicated that as of July 1, 2017, $24,600 was owed on the truck and $14,100 on a home equity loan, a portion of which was believed to have been used to purchase the car. Payments to principal were about $100 per month for each loan plus interest. Do you include principal payments in using the net worth method? and if so how?

Posted Date: Dec 07, 2021 01:07 PM

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The application indicated that as of July 1, 2017, $24,600 was owed on the truck and $14,100

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In the 2017 and 2018 financial statements the price of the asset is considered using its pur... View the full answer

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