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:

Ownership of a home ($175,000)

Value of retirement savings ($92,000)

Ownership of 2 automobiles ($23,000)

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)

Total assets is $323,200

Assets are those items which would give a probable inflow to the Hanson Family.

The liabilities are the following:

Credit card debt ($200)

Home mortgage ($120,000)

Automobile loan debt ($8,500)

Student Loans ($11,000)

Total liabilities is $139,700

Liabilities are those items which would give a probable outflow to the Hanson Family.

Many people would get confuse doing this question and might take out the HCF for these three numbers and would not then be able to solve it.

What we have to do is to find out the LCM of these three numbers and then calculate whether it comes out to be a five digit number or not.

So the LCM of these three numbers comes out to be 110.

NOw we can have any 5 digit number that is a multiple of 110. For example 11000 is a possible 5 digit number.