anna is creating a personal balance sheet. she plans to list these items. bank account jewelry health…

anna is creating a personal balance sheet. she plans to list these items. bank account jewelry health insurance rent which statements about the balance sheet are correct? select three choices. health insurance, and rent will be listed in the liabilities column. anna will need to find the total value of her jewelry and bank account. the period of the balance sheet will be one year. anna will add the value of the assets and subtract the value of the liabilities. the items in the table will be listed in four columns.

anna is creating a personal balance sheet. she plans to list these items. bank account jewelry health insurance rent which statements about the balance sheet are correct? select three choices. health insurance, and rent will be listed in the liabilities column. anna will need to find the total value of her jewelry and bank account. the period of the balance sheet will be one year. anna will add the value of the assets and subtract the value of the liabilities. the items in the table will be listed in four columns.

Answer

Brief Explanations:

  1. Health insurance premiums owed and rent due are liabilities, so "Health insurance, and rent will be listed in the liabilities column" is correct.
  2. Jewelry and bank - account balances are assets, and their total value needs to be calculated for the balance sheet, so "Anna will need to find the total value of her jewelry and bank account" is correct.
  3. The basic accounting equation for a balance sheet is Assets - Liabilities=Equity, so "Anna will add the value of the assets and subtract the value of the liabilities" is correct. There is no indication the period is one year, and items are typically listed in two columns (assets and liabilities), not four.

Answer:

Health insurance, and rent will be listed in the liabilities column. Anna will need to find the total value of her jewelry and bank account. Anna will add the value of the assets and subtract the value of the liabilities.