Assets are the resources owned by any individual or organization. Svenson's assets increased by $1,400.
<h3>What is an asset?</h3>
An asset is any resource that is been owned by a company, organization, or individual.
Given to us
The original price of the refrigerator is $2,300.
The Market price of the refrigerator is $1,900.
Svensons' paid $500
As it is given to us that the Market price of the refrigerator is $1,400 and as the Svenson's has bought the refrigerator, therefore, this resource(refrigerator) is now owned by the Svenson.
We know that the down payment made is also made from our assets(cash). therefore, the assets increased by $1,400($1900-$500)only.
Thus, the Svensons’ assets increased by $1,400.
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