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You purchased a car for personal use for $20,000 a few years ago. You paid $5,000 down and borrowed $15,000 to purchase the car. As
You purchased a car for personal use for $20,000 a few years ago. You paid $5,000 down and borrowed $15,000 to purchase the car. As of today you still owe the bank $6,000 on the loan. The car is currently worth $16,000 according to Kelley Blue Book. How would you list this car on a personal balance sheet for September 9, 2016?
| A. Tangible asset worth $20,000 | |
| B. Investment asset worth $10,000 | |
| C. Non-current liability worth $4,000 | |
| D. Tangible asset worth $16,000 |
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