You have a sneaker collection worth $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?(1 point)
$2,500
$2,300
$500
$2,000
3 answers
$2,300
explain
To calculate your total assets, you add up the value of all your assets.
In this case, you have a sneaker collection worth $2,000. Additionally, you have $300 in your savings account.
However, you also have a credit card balance of $200. Since credit card balances represent debt, they are not considered assets.
So, to calculate your total assets, you add the value of your sneaker collection and your savings account:
$2,000 (sneaker collection) + $300 (savings account) = $2,300.
Therefore, your total assets are $2,300.
In this case, you have a sneaker collection worth $2,000. Additionally, you have $300 in your savings account.
However, you also have a credit card balance of $200. Since credit card balances represent debt, they are not considered assets.
So, to calculate your total assets, you add the value of your sneaker collection and your savings account:
$2,000 (sneaker collection) + $300 (savings account) = $2,300.
Therefore, your total assets are $2,300.