Given:
Sharon has two liabilities: a credit card balance of $1300 and a car loan balance of $4800.
Car = $9000
Balance in her saving account = $1450
Stocks = $1050.
To find:
Sharon’s net worth.
Solution:
Total liabilities = Credit card balance + Car loan balance
            = $1300 + $4800
            = $6100
Total Assets = Car + Balance in her saving account + Stocks
           = $9000 + $1450 + $1050
           = $11500
Now,
Net worth = Total assets - Total liabilities
         = $11500 - $6100
        = $5400
Therefore, Sharon’s net worth is $5400.
Sharon's net worth, based on her assets and liabilities, is $5,400.
Net worth refers to the difference between an individual's assets and liabilities.
Assets are the properties owned by the individual. Â Liabilities are the sources of funding for the assets. Â They are financial obligations owed to outsiders (creditors).
In business, the net worth of an entity is known as equity.
Credit card balance of $1300
Car loan balance of $4800
Total liabilities = $6,100
Sharon's car with a market value of $9000
Savings account balance of $1450
Stocks that are currently worth $1050
Total assets = $11,500
Net worth = $5,400 ($11,500 - $6,100)
Thus, Sharon's net worth is $5,400.
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