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Joaquin has $1,300 in the bank and has investments worth $4,000. He also has $7,000 worth of credit card debt. What is the total value of Joaquin's assets

Joaquin has $1,300 in the bank and has investments worth $4,000. He also has $7,000 worth of credit card debt. What is the total value of Joaquin's assets
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Joaquin has $1,300 in the bank and has investments worth $4,000. He also has $7,000 worth of credit card debt. What is the total value of Joaquin's assets

User Matheno
by
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1 Answer

2 votes
Assets = Liabilities + Owner's Equity
$12,300 = $7,000 + 5300

Assets
Cash in bank 1,300
Account Receivable/investment 4000
Account Payable/credit card debt 7000
Total Assets 12,300
User Supervacuo
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8.3k points
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