Using the following balance sheet items and amounts, calculate the total liquid assets and total current liabilities:
Question:
Using the following balance sheet items and amounts, calculate the total liquid assets and total current liabilities:
Money market account $2,600 Medical bills $262
Mortgage $158,000 Checking account $780
Retirement account $87,400 Credit card balance $489
a. Total liquid assets $___________________
b. Total current liabilities $_________________
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For 
Focus On Personal Finance
ISBN: 9780077861742
5th Edition
Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
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