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

dante listed his assets and liabilities on a personal balance sheet.\ndantes balance sheet (august 2013)\nassets\ncash $900\ninvestments $1,100\nhouse $150,000\ncar $8,000\ntotal\nliabilities\ncredit card $4,000\nstudent loan $1,000\nmortgage $100,000\ncar loan $5,000\ntotal\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)\nassets\ncash $900\ninvestments $1,100\nhouse $150,000\ncar $8,000\ntotal\nliabilities\ncredit card $4,000\nstudent loan $1,000\nmortgage $100,000\ncar loan $5,000\ntotal\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

Answer:

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

Explanation:

Step1: Calculate total assets

$900 + 1100+150000 + 8000=$160000$

Step2: Calculate total liabilities

$4000+1000 + 100000+5000=$110000$

Step3: Find the difference

$110000 - 160000=- $50000$, which means liabilities are $50000$ more than assets.