Bricklin Company has $600 in its checking account. A customer owes Bricklin $1,000. The company has store equipment that cost $1,500 and a truck that cost $5,000. Bricklin Company owes the bank $3,500 on the truck loan of which one payment of $700 is due in one week, and owes $4,000 to creditors for its monthly operating expenses, including rent, all of which is due in the next 30 days.
A. List Bricklin Company's assets and the dollar amount of each.
B. List Bricklin Company's liabilities and the dollar amount of each.
C. Is Bricklin Company solvent? Explain.

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The Answer of Bricklin Company has $600 in its checking account. A customer owes Bricklin $1,000. The company has store equipment that cost $1,500 and a truck that cost $5,000. Bricklin Company owes the bank $3,500 on the truck loan of which one payment of $700 is due in one week, and owes $4,000 to creditors for its monthly operating expenses, including rent, all of which is due in the next 30 days.
A. List Bricklin Company's assets and the dollar amount of each.
B. List Bricklin Company's liabilities and the dollar amount of each.
C. Is Bricklin Company solvent? Explain.

Bricklin Company Has $600 in Its Checking Account