Colin listed his assets and liabilities on a personal balance sheet. Colin's Balance Sheet (August 2013) Assets Liabilities cash $1,500 credit card $500 stocks $800 rent $800 car $5,000 car loan $1,200 coin collection $1,200 student loan $5,000 Total Total Which statement is true about the total assets and the total liabilities?

Question

Clayton Mccarthy

Business

22 February, 17:53

Colin listed his assets and liabilities on a personal balance sheet. Colin's Balance Sheet (August 2013) Assets Liabilities cash $1,500 credit card $500 stocks $800 rent $800 car $5,000 car loan $1,200 coin collection $1,200 student loan $5,000 Total Total Which statement is true about the total assets and the total liabilities?

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Osvaldo Wiley · Answer 1

In adding put the assets ie cash $1500 plusstocks $800 plus coin collection $1200 = $3500 whereas liabilities are Credit card $500, rent $800 plus car laon $5000 plus student loan $5000 = $11300 so liabilities are 3.22 times the assets.