Register
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
32.6k views
4 votes
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
6.0k points

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
by
6.6k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

7.2m questions

9.6m answers

Other Questions

In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
What is meant by data mining ?
Identify the advantages and disadvantages of a command economy.
How can life expectancy and literacy rates affect the quality of labor in the economy?
Who controls the supply of money in the United States today? A. The United States Treasury B. The Federal Reserve System C. Congress D. The Bureau of Engraving and Printing
Link Copied!