How to calculate total assets when given $100 toward buying a $700 computer. So you put $600 on credit card . You didn't take any money out of your $300savings account. So what are your total assets
To calculate your total assets, you need to consider the value of all your assets, including the cash you have on hand and the value of any property or investments you own. Based on the information provided, let's calculate your total assets:
Cash on hand:
- $100 (given towards buying the computer)
Value of savings account:
- No money was taken out of the $300 savings account, so the value remains $300.
Value of credit card purchase:
- You put $600 on your credit card to buy the computer.
Total Assets:
- Cash on hand: $100
- Value of savings account: $300
- Value of credit card purchase: $600
Total assets = $100 + $300 + $600 = $1000
Therefore, your total assets amount to $1000.