dante listed his assets and liabilities on a personal balance sheet.\ndantes balance sheet (august 2013)\n|…

dante listed his assets and liabilities on a personal balance sheet.\ndantes balance sheet (august 2013)\n| assets | | liabilities | |\n| ---- | ---- | ---- | ---- |\n| cash | $900 | credit card | $4,000 |\n| investments | $1,100 | student loan | $1,000 |\n| house | $150,000 | mortgage | $100,000 |\n| car | $8,000 | car loan | $5,000 |\n| total | | total | |\nwhich statement is true about the value of dantes assets and liabilities?\nhe has $50,000 more in assets than in liabilities.\nhe has $50,000 more in liabilities than in assets.\nhe has $110,000 more in liabilities than in assets.\nhe has $160,000 more in assets than in liabilities.

dante listed his assets and liabilities on a personal balance sheet.\ndantes balance sheet (august 2013)\n| assets | | liabilities | |\n| ---- | ---- | ---- | ---- |\n| cash | $900 | credit card | $4,000 |\n| investments | $1,100 | student loan | $1,000 |\n| house | $150,000 | mortgage | $100,000 |\n| car | $8,000 | car loan | $5,000 |\n| total | | total | |\nwhich statement is true about the value of dantes assets and liabilities?\nhe has $50,000 more in assets than in liabilities.\nhe has $50,000 more in liabilities than in assets.\nhe has $110,000 more in liabilities than in assets.\nhe has $160,000 more in assets than in liabilities.

Answer

Explanation:

Step1: Calculate total assets

Add up all asset values: $900 + 1100+150000 + 8000=$160000$.

Step2: Calculate total liabilities

Add up all liability values: $4000+1000 + 100000+5000=$110000$.

Step3: Find the difference

Subtract total liabilities from total assets: $160000 - 110000=$50000$. Since the result is positive, assets are greater than liabilities by $50000$.

Answer:

He has $50,000 more in assets than in liabilities.