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.

The correct statements about the balance sheet are:

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.

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

A personal balance sheet can be identified as a statement of assets, liabilities, and net worth for a given period of time. It has four columns. The first two columns are for the assets (asset name, asset value) while the last two are for the liabilities (liability name, liability value).

Net worth is computed by subtracting total liabilities from total assets.