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?
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.

the answer is a) he has $50,000 more in assests than in liabilities

Explanation:

A

Explanation:

after lydia compare her check register to her bank statement, and the ending balances do not seem to match. then, she must make a bank reconciliation by putting the data all together.

to do this, she need to determine the bank ending balance. after, add the deposits in transit then deduct the outstanding checks. moreover, if the actual checkbook balance does not equal this number, check again for transporting errors by subtracting the balances and add the difference to nine. sometimes, a mathematical error can happen but a bank reconciliation is a great tool to resolve the discrepancies.