Jenkins Company began business in June when stockholders invested $82,000 in the business, which in turn issued its co
Posted: Sat Feb 19, 2022 2:34 pm
Jenkins Company began business in June when stockholders
invested $82,000 in the business, which in turn issued
its common stock to them. Jenkins Company then purchased a building
for $40,000 cash and inventory for $20,000 cash,
performed services for clients for $15,000 cash, purchased
supplies for $8,000 cash, and paid utilities of $6,000.
What is the amount of cash at the end of June?
A. 43,000
B. 37,000
C. 22,000
D. 23,000
invested $82,000 in the business, which in turn issued
its common stock to them. Jenkins Company then purchased a building
for $40,000 cash and inventory for $20,000 cash,
performed services for clients for $15,000 cash, purchased
supplies for $8,000 cash, and paid utilities of $6,000.
What is the amount of cash at the end of June?
A. 43,000
B. 37,000
C. 22,000
D. 23,000