Question

Use Worksheet 2.1. Teresa Blankenship’s banker has asked her to submit a personal balance sheet as of June 30, 2015, in support of an application for a $6,000 home improvement loan. She comes to you for help in preparing it. So far, she has made the following list of her assets and liabilities as of June 30, 2015:



From the data given, prepare Teresa Blankenship’s balance sheet, dated June 30, 2015 (follow the balance sheet form shown in Worksheet 2.1). Then evaluate her balance sheet relative to the following factors
(a) Solvency
(b) Liquidity
(c) Equity in her dominantasset.


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  • CreatedFebruary 13, 2015
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