Grade 7 · Math

7th grade What you own, what you owe, and net worth worksheet

6 printable versionsBuilding Confidence10 questions · answer keyFree · no account

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What you own, what you owe, and net worth

Grade 7 Math Worksheet - Building Confidence

NameDate

Circle the best answer, or write your answer on the line.

1.
Ari reads Ms. Hale's pretend net worth record. The savings account holds $450 that is owned. Which column of the record does it go in?
- Assets (what is owned).
- Liabilities (what is owed).
- Neither.
2.
Esme reads Mr. Cole's pretend net worth record. The bike is worth $120 and is owned. Which column of the record does it go in?
- Liabilities (what is owed).
- Neither.
- Assets (what is owned).
3.
Kira reads Ms. Shaw's pretend net worth record. The car is worth $4,000 and is owned. Which column of the record does it go in?
- Neither.
- Assets (what is owned).
- Liabilities (what is owed).
Read this first
Net worth record, assets column
Item Amount
savings $450
bike $120
tablet $200
Milo reads Ms. Wells's pretend net worth record. What is the total of the assets column?
Pia reads Ms. Yates's pretend net worth record. What is the total of the assets column?
Net worth record, liabilities column
Item Amount
bike $70
electric bill $85
dentist $40
Ren reads Ms. Hale's pretend net worth record. What is the total of the liabilities column?
Net worth record, assets column
Item Amount
savings $520
laptop $380
guitar $150
Tala reads Mr. Cole's pretend net worth record. What is the total of the assets column?
Net worth record, liabilities column
Item Amount
furniture $260
phone $75
car $1,400
Zee reads Mr. Dunn's pretend net worth record. What is the total of the liabilities column?
Total assets | $870; total liabilities | $240; net worth | ?. Esme reads Mr. Grove's pretend net worth record. The total assets are $870 and the total liabilities are $240. What is the net worth?
Total assets | $3,900; total liabilities | $1,200; net worth | ?. Jun reads Ms. Wells's pretend net worth record. The total assets are $3,900 and the total liabilities are $1,200. What is the net worth?

Item	Amount
savings	$450
bike	$120
tablet	$200

Item	Amount
bike	$70
electric bill	$85
dentist	$40

Item	Amount
savings	$520
laptop	$380
guitar	$150

Item	Amount
furniture	$260
phone	$75
car	$1,400

7th grade What you own, what you owe, and net worth worksheet – printable — Print: 1 2 3 4 5 6

About this worksheet

What you own, what you owe, and net worth. Every version has 10 questions, and the answer key prints on the second page.

What your child will learn

I can sort things into assets (owned) and liabilities (owed), and total each column.
I can find a net worth, and work back to a missing asset.
I can tell what happens to net worth when a payment is made or an asset loses value, and who has the greater net worth.

Standard: state-only

Words to know

asset: Something owned that has a money value, like savings or a bike.

liability: Money that is owed and has to be paid.

net worth: Total assets minus total liabilities: what is left if everything owed is paid.

record: A table listing what a person owns and what a person owes.

Common mistakes

Your child put money that is owed in the assets column.

Your child put something that is owned in the liabilities column.

Your child added all but one of the lines in the column.

What to say

Ask: is this money you have, or money you have to pay?

Ask: do you have this, or do you owe it?

Ask: how many lines are in the column, and did you add every one?

Questions parents ask

What is the most common mistake with what you own, what you owe, and net worth?

Your child put money that is owed in the assets column.

How can I help my child with what you own, what you owe, and net worth?

Ask: is this money you have, or money you have to pay?

Are these 7th grade math worksheets free to print?

Yes. All 6 printable versions at each level are free to print, with the answer key, and no account is needed.

More grade 7 math

See all grade 7 math

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