On January 1,Kirk Corporation had total assets of $850,000.During the month,the following activities occurred:
-Kirk Corporation acquired equipment costing $6,000,promising to pay cash for it in 60 days.
-Kirk Corporation purchased $3,500 of supplies for cash.
-Kirk Corporation sold land which it had acquired 2 years ago.The land had cost $15,000 and it was sold for $15,000 cash.
-Kirk Corporation signed an agreement to rent additional storage space next month at a charge of $1,000 per month.
What is the amount of total assets of Kirk Corporation at the end of the month?
A) $859,500.
B) $856,000.
C) $837,500.
D) $840,000.

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The Answer of On January 1,Kirk Corporation had total assets of $850,000.During the month,the following activities occurred:
-Kirk Corporation acquired equipment costing $6,000,promising to pay cash for it in 60 days.
-Kirk Corporation purchased $3,500 of supplies for cash.
-Kirk Corporation sold land which it had acquired 2 years ago.The land had cost $15,000 and it was sold for $15,000 cash.
-Kirk Corporation signed an agreement to rent additional storage space next month at a charge of $1,000 per month.
What is the amount of total assets of Kirk Corporation at the end of the month?
A) $859,500.
B) $856,000.
C) $837,500.
D) $840,000.

On January 1,Kirk Corporation Had Total Assets of $850,000