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If you were to prepare a balance sheet for yourself, would your equity amount be positive or negative and why? Note: It is common for students to have a negative amount in equity. Remember the formula: Assets = Liabilities + Owner's Equity. Assets are what you own, liabilities are debts you owe, such as a loan or long-term credit card debt. Monthly expenses are not liabilities. Refer to the ALOE examples in the Notes - Chapter 1 before you answer. You must respond to another student's post for full credit. Answer in complete sentences and use proper spelling and grammar. You must capitalize I (not i). Do not give dollar amounts of your assets and debt. Simply respond something similar to this: If I were to prepare a balance sheet for myself I would have (positive or negative) equity, due to my assets (list assets, not amounts) being worth (more or less) than my liabilities (which are...). This is how you will be graded: Discussion Post Rubric Rubrics If you were to prepare a balance sheet for yourself, would your equity amount be positive or negative and why? Note: It is common for students to have a negative amount in equity. Remember the formula: Assets = Liabilities + Owner's Equity. Assets are what you own, liabilities are debts you owe, such as a loan or long-term credit card debt. Monthly expenses are not liabilities. Refer to the ALOE examples in the Notes - Chapter 1 before you answer. You must respond to another student's post for full credit. Answer in complete sentences and use proper spelling and grammar. You must capitalize I (not i). Do not give dollar amounts of your assets and debt. Simply respond something similar to this: If I were to prepare a balance sheet for myself I would have (positive or negative) equity, due to my assets (list assets, not amounts) being worth (more or less) than my liabilities (which are...). This is how you will be graded: Discussion Post Rubric Rubrics

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