dante listed his assets and liabilities on a personal balance sheet. dantes balance sheet (august 2013)…

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

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

Answer

Explanation:

Step1: Calculate total assets

Add up all asset - values: $900 + 1100+150000 + 8000=$159000$

Step2: Calculate total liabilities

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

Step3: Find the difference between assets and liabilities

$159000−110000 = $49000$

Answer:

He has $49000 more in assets than in liabilities. So the statement "He has $50,000 more in assets than in liabilities" is the closest correct - like statement among the options (assuming those are the only options).