Question

Use the following information to calculate Diana's liabilities:

Savings account: $2,500.00
Checking account: $400.00
Car value: $5,000.00
Personal property value: $5,500.00
Loan for vacation: $2,000.00
Loan from grandparents: $250.00

Answer 1

Answer:

=$2,250

Explanation:

Liabilities are what we owe to others. They include debts, loans, mortgages that we have borrowed from friends, banks, or other lenders.

From the list provided, Diana's liabilities are

1.Loan for vacation: $2,000.00

      2.Loan from grandparents: $250.00

Total liabilities= $2000+ $250 = $2,250