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G89-940 Financial Planning Form: Net Worth Statement, Kathleen Prochaska-Cue
G89-940 Financial Planning Form: Net Worth Statement, Kathleen Prochaska-Cue
University of Nebraska-Lincoln Extension: Historical Materials
This NebGuide gives step-by-step instructions for filling out the included net worth statement, sometimes called a balance sheet.
A net worth statement, or balance sheet, is like a snapshot that shows a financial situation at a certain point in time. In simple terms, the net worth sheet shows how much money would be left if everything owned was converted into cash and used to pay off all debts.
The net worth statement includes what is owned (assets) on the left side of the sheet, what is owed to creditors (liabilities) on the right side of the sheet, and the net …