Question

Jenkins Company began business in June when stockholders invested $85,000 in the business, which in turn issued its common stock to them. Jenkins Company then purchased a building for $43,000 cash and inventory for $24,000 cash, performed services for clients for $15,000 cash, purchased supplies for $7,000 cash, and paid utilities of $4,000 cash. What is the amount of cash at the end of June?

Answer 1

Answer:

Cash at the end of June 22000

Explanation:

Invested 85000

 

Purchase Building -43000

Inventory        -24000

Services                15000

Purchase supplies -7000

Utilities                  -4000

 

Cash at the end of June 22000