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