Your grandma gave you $100 toward buying a $700 computer. You put $600 on a credit card. You didn't take any money out of your $300 savings account. What are your total assets?
Your total assets can be calculated by adding up the value of your savings account, the $100 from your grandma, and any remaining balance on your credit card.
Total assets = Savings account + Grandma's gift + Credit card balance
Total assets = $300 + $100 + ($700 - $600)
As you didn't take any money out of your savings account, the remaining balance on your credit card would be $700 - $600 = $100.
Total assets = $300 + $100 + $100
Total assets = $500
Therefore, your total assets amount to $500.