Bill Gates has 5 million transactions done daily on his name?
Bill Gates has a net worth of 100.2 billion dollars! I wonder what my net worth is and what a transaction is
I'll visit Jimmy the accountant and find out
Hey Jimmy, I was just watching a documentary on Bill gates and heard about his huge net worth and his daily transactions wondered what they were and what my net worth is
Interesting, a transaction is just an exchange of something that has value for something else that has value, but to find out your net worth is very simple. You just subtract your assets from your liabilities and you get your net worth which is also your personal equity !
Oh! That's very simple
Your assets are what you own that has value which includes cash. Your liabilities are your debts and are what you owe to a person.
I have $125,050 in assets and $55,000 in liabilities
Now do the math !
Now what are your total assets and liabilities
Incredibly easy, thanks I'll see you soon.
That's $70,050 !
You're always welcome, now I have to calculate all the money I made this year, or what I like to call yearly revenue