Jenna Jeffries started her business baking dog treats by investing cash of $1000.During May its first month of operations Jenna's Barkery had revenues of $3000 all of which was collected in cash.She paid her assistant $1000 in cash and purchased $200 of supplies on account.The business paid cash dividends of $500.Use the following tabular analysis to determine the total assets at the end of the month.

Question

Quizplus · Accepted Answer

|               | Assets         | Liabilities & Equity |
|---------------|----------------|----------------------|
| Beginning     | $1,000 cash    | $1,000 common stock   |
| Revenues      | +$3,000 cash   |                       |
| Supplies      | -$200 accounts |                       |
|               |  payable       |                       |
| Wages         | -$1,000 cash   |                       |
| Dividends     | -$500 cash     |                       |
| Ending        | $2,300         | $1,000 common stock   |

At the end of the month, the total assets of Jenna's Barkery is $2,300. The only choice that reflects this is choice D.

Jenna Jeffries Started Her Business Baking Dog Treats by Investing