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)\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 = $50000$

Answer:

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