Question

Bre’anna has $1,125 in her checking account, owes $800 on her credit card, and has a car worth $3,500 that is paid off. What are the total amounts of Bre’anna’s assets, liabilities and net worth (may be negative)?

Answer 1

Assets:

Cash in bank: 1125
Car: 3500

Liabilities:

Credit card 800

1125 + 3500 - 800

Answer: 3825