The main difference between transnet and perfect competitor is that a transnet is a mode of transportation whereas a perfect competitor is a person who sells an identical product with others, they can garner a small share of their income, and that the cannot control the price of the market of their product.
25,700 (cost of car) + 3000 (premium package) + 700 (vehicle delivery) - 6000 (old car) = $23,400.
In simple terms, the word "mortgage" is an account payable in which your house is the collateral. The asset acquired for the house is $315,000 but this value should be subtracted with the mortgage amount, $285,000 to calculate for the equity.
equity = $315,000 - $285,000
= $30,000
Thus, the home equity Julie has is only $30,000.