In: Accounting
1.
Net worth = Assets – (loan + Credit card balance)
= 3,000 – (500 + 135)
= 3,000 – 635
= $2,365
Note: cash inflows and expenses are not to be considered, since these constitute a part of net worth already included in above calculation.
2.
Net worth = Beginning – Savings – Expenses
= 4,500 – (80 × 12) – 600
= 4,500 – 960 – 600
= $2,940 (Answer)