Question

Anna is creating a personal balance sheet. She plans to list these items.
Bank Account Rent
Jewelry Health Insurance
Which statements about the balance sheet are correct? Check all that apply. Health insurance, and rent are listed in the liabilities column of the balance sheet. Anna will find the total value of her jewelry and bank account.
She will use the value of all of the items for the period of one year.
She will subtract the value of the assets and the value of the liabilities.
The items in the table should be listed in four columns.

Answer 1

Anna is creating a balance sheet and plans to list these items, then she would do the following:

A. Health insurance, and rent, are listed in the liabilities' column of the balance sheet.

B.  Anna will find the total value of her jewelry and bank account.

E. The items in the table should be listed in four columns.

What is the balance sheet?

Balance sheet is the statement which shows the financial position of the business and check the accuracy of the business, it is the ended procedure of financial statement. Here all the liabilities are posted to the left side of the statement and all the assets are posted to the right side.

Health insurance and are listed on the liabilities' column of the balance sheet as it is the liability of Anna to be paid after some time,

If she does so, then she will find the total value of her jewelry and bank account.

Therefore, options A, B, and E are correct.

Learn more about liabilities, refer:

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