What are Cyndi’s total assets and total liabilities based on her assets and liabilities record?(1 point)

Question

Assets Value
Car $7,500
Computer $500
Savings account $5,450
Crypto collection $5,000
Total Assets $
Liabilities Balance Owed
Car Loan $2,000
Credit card balance $200
Total Liabilities $

Answer 1

To calculate Cyndi’s total assets and total liabilities, we can sum up the values provided for each category.

Total Assets:

• Car: $7,500
• Computer: $500
• Savings account: $5,450
• Crypto collection: $5,000

Calculating the total assets: \[ \text{Total Assets} = 7,500 + 500 + 5,450 + 5,000 = 18,450 \]

Total Liabilities:

• Car Loan: $2,000
• Credit card balance: $200

Calculating the total liabilities: \[ \text{Total Liabilities} = 2,000 + 200 = 2,200 \]

Now, summarizing the results:

• Total Assets: $18,450
• Total Liabilities: $2,200

Thus, Cyndi’s total assets are $18,450 and total liabilities are $2,200.