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Hi, I pasted a list of accounts for my assignment. When calculating the total assets, would the home equity loan limit of $70,00 be considered
Hi,
I pasted a list of accounts for my assignment. When calculating the total assets, would the home equity loan limit of $70,00 be considered an asset? If not, then what would it be categorized? Thank you.
cash in checking accounts
$5,000
cash in savings
$10,350
home market value
$145,500
first mortgage on house
$25,000
home equity loan limit
$70,000
home equity loan
$10,000
automobile market value
$19,000
automobile loan outstanding
$15,000
credit card debt
$1,500
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