Your client has a car worth $17,500, a computer worth $800, and a savings of $500. She has a car loan for $1,200 and a credit card balance of $300. How would you finish creating her assets and liabilities record based on this information?(2 points)

Question

Assets Value
Car $17,500
Computer $800
Savings account $
Total Assets $
Liabilities Balance Owed
Car loan $
Credit card balance $300
Total Liabilities $

Answer 1

To complete your client's assets and liabilities record, we need to fill in the missing values for the savings account, total assets, car loan, and total liabilities.

Assets

• Car: $17,500
• Computer: $800
• Savings account: $500

Total Assets Calculation: Total Assets = Car + Computer + Savings account
Total Assets = $17,500 + $800 + $500 = $18,800

Liabilities

• Car loan: $1,200
• Credit card balance: $300

Total Liabilities Calculation: Total Liabilities = Car loan + Credit card balance
Total Liabilities = $1,200 + $300 = $1,500

Final Record

Assets

• Car: $17,500
• Computer: $800
• Savings account: $500
  Total Assets: $18,800

Liabilities

• Car loan: $1,200
• Credit card balance: $300
  Total Liabilities: $1,500

This completes the client's assets and liabilities record.