Net Worth Overstated

Kathy worked today, and I paid bills. Here is our current financial situation:


1991

Accounts    Balances

1000 ASSETS

1100 Current Assets

1110 Checking - Wachovia                 254.07

1111 Cookie Jar                           27.34

1120 Cash                                  0.00

1130 Savings - Wachovia                2,583.11

1131 CD                                5,000.00

1140 JHH Stock Fund                      825.41

1141 JH Stock 95 shares                1,706.92

1150 Escrow                              948.67

Total Current Assets                             11,345.52

1200 Fixed Assets

1210 House                            63,368.34

1211 Macintosh Classic                     0.00

1212 Mac LC                              660.44

1220 Automobiles

1221 Corolla '85                  5,700.00

1222 VW Rabbit '79                  500.00

1223 VW Fox '87                   3,600.00

Total Automobiles                                 9,800.00

Total Fixed Assets                               73,828.78

Total ASSETS                                     85,174.30

2000 LIABILITIES

2100 Student Loan                           5,756.52

2101 Grant Loan                             1,052.03

2200 Mortgage                              54,610.88

2300 Credit Cards

2310 AT&T MasterCard                     116.22

2320 Discover 1817 (stopped)               0.00

2305 Discover 3042                        63.16

Total Credit Cards                                  179.38

Total LIABILITIES                                61,598.81

NET WORTH                                        23,575.49

Our net worth is overstated. The cars are no longer worth what we bought them for. Especially the Rabbit that we don’t even have. And we won’t be able to get that much for the house. Plus we owe a bunch on the LC. And that Escrow may show up under Assets, but it sure isn’t mine. It doesn’t bother me, though. I’m not an accountant.

I can add another $45 up there under assets. Kathy made some good tips. And I can add another $45 for the Cashin Ad Design work we did for Libba Wilson. Hmmm… at this rate we’ll be loaded!

Later we went to the pool and played a while before going to church at IHM. Ran into Ted and Grant whom we sat with. Grant set a bad example whispering to Ted. Thank goodness Danny sat on the opposite end of the pew.

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