Assets_ Liabilities _ Capital by niusheng11

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									                           Assets, Liabilities & Capital
                               Assignment/Quiz
A. Fill in the Blanks

       1. Assets are items which you _____.
       2. Liabilities are items which you _____.
       3. Capital is also known as personal _____.


B. Identify each of the following as either Assets or Liabilities

                                                           Asset    Liability
          1.   Tools
          2.   Automobile
          3.   Car Loan
          4.   Balance on Credit Card
          5.   Equipment
          6.   Cash
          7.   Mortgage
          8.   CDs
          9.   Stereo
         10.   Money owed to a friend


C. Calculate the amount that is missing.

                Asset                       Liability               Capital
 1.            500.00                       100.00
 2.            155.00                        25.00
 3.            400.00                       135.00
 4.            300.00                       105.00
 5.                                          50.00                   100.00
 6.            100.00                                                 75.00
 7.            200.00                                                 50.00

								
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