You have a sneaker collection work $2,000, and you have $300 in your savings account. But you also have a credit card balance of $200. What are your total assets?

Answer 1

To calculate your total assets, you need to consider the value of your sneaker collection and your savings account.

Your sneaker collection is worth $2,000, and your savings account has $300.

Total assets = value of sneaker collection + savings account Total assets = $2,000 + $300 Total assets = $2,300

Your credit card balance of $200 is a liability, not an asset, so it does not factor into the calculation of total assets.

Therefore, your total assets amount to $2,300.