Ponderable

Bruddah IZ said:
Too easy. Reading and comprehending them can be a challenge for some of you Real Estate gurus who canʻt or wonʻt do the third grade math required to generate a financial statement.
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Before you do the 3rd-grade math at the bottom of the statement, tell me which side your house goes on when you're filling in the "assets" and "liabilities."
Can you, please?
 
Bruddah IZ said:
Too easy. Reading and comprehending them can be a challenge for some of you Real Estate gurus who canʻt or wonʻt do the third grade math required to generate a financial statement.
Click to expand...
Yes but which side of the statement does your house go on, when you’re listing “assets” and “liabilities.” I mean it’s after the list that you do the 3rd-grade math to determine net worth.
 
legend said:
Before you do the 3rd-grade math at the bottom of the statement, tell me which side your house goes on when you're filling in the "assets" and "liabilities."
Can you, please?
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Sure. Rental? If so, it could go on both sides if you borrowed from the bank to buy it.
 
Bruddah IZ said:
Sure. Rental? If so, it could go on both sides if you borrowed from the bank to buy it.
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Nope, not rental.
House that you live in and bought and has a mortgage on it.
Which side does it go on?
There is only one correct answer of two possible choices.
Do you know the answer?
 
messy said:
Yes but which side of the statement does your house go on, when you’re listing “assets” and “liabilities.” I mean it’s after the list that you do the 3rd-grade math to determine net worth.
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If youʻre smart, you do the third grade math and income statement long before the balance sheet. Let legend know.
 
Bruddah IZ said:
The right side.
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The answer is either the “asset” side or the “liability” side.
Having a hard time with this, aren’t you? Hey GoBear, help him out. He doesn’t know.
One of the most basic issues in all of the financial world and he doesn’t know the answer.
Tsk, tsk.
 
And btw Iz is the same idiot who says that “deflating a balloon” is involved in the stock market crash.
He’s a glib, smarmy jacksss who knows nothing.
 
messy said:
The answer is either the “asset” side or the “liability” side.
Having a hard time with this, aren’t you? Hey GoBear, help him out. He doesn’t know.
One of the most basic issues in all of the financial world and he doesn’t know the answer.
Tsk, tsk.
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Right, both sides if it's a financed rental. Hence the name, balance sheet. Pretty easy stuff if you're the RE magnate that you say you are. I told you that if you're smart you would do the income statement first. That way you can see your mortgage expense a.k.a. as the banks asset and your liability.
 
Bruddah IZ said:
Right, both sides if it's a financed rental. Hence the name, balance sheet. Pretty easy stuff if you're the RE magnate that you say you are. I told you that if you're smart you would do the income statement first. That way you can see your mortgage expense a.k.a. as the banks asset and your liability.
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As expected, you can’t answer the simple question , which I have asked multiple times for all to see, of whether a house that you own, even with a mortgage on the house, is listed as an asset or a liability on your financial statement.
FYI, you list it as an asset. There is no other answer to my question.
 
messy said:
As expected, you can’t answer the simple question , which I have asked multiple times for all to see, of whether a house that you own, even with. Mortgage on the house,
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A real estate magnate would know what Net Income on the home that you live in is. Even in a simulated portfolio.
 
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