Dante listed his assets and liabilities on a personal balance sheet. Dante’s Balance Sheet (August 2013) Assets Liabilities cash $900 credit card $4,000 investments $1,100 student loan $1,000 house $150,000 mortgage $100,000 Car $8,000 car loan $5,000 Total Total Which statement is true about the value of Dante’s assets and liabilities?
Answer
A
He has $110,000 more in liabilities than in assets.
B
He has $50,000 more in assets than in liabilities.
C
He has $50,000 more in liabilities than in assets.
D
He has $160,000 more in assets than in liabilities.