The Hanson Family has the following assets and liabilities. Can you tell the difference? Identify which are assets and which are liabilities:
Ownership of a home ($175,000)
Credit card debt ($200)
Home mortgage ($120,000)
Value of retirement savings ($92,000)
Ownership of 2 automobiles ($23,000)
Automobile loan debt ($8,500)
Value of Home furnishings ($3,800)
Worth of jewelry and other valuables ($5,000)
Checking account balance ($3,200)
Savings account balance ($8,800)
Value of stocks and investments ($12,400)
Student Loans ($11,000)
List the Assets of the Hanson Family:
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Home » Mathematics » The Hanson Family has the following assets and liabilities. Can you tell the difference? Identify which are assets and which are liabilities: Ownership of a home ($175,000) Credit card debt ($200) Home mortgage ($120,000) Value of retirement savings