Ann just purchased $10,000 of stock.She paid $8,000 in cash and borrowed the remaining $2,000 needed to pay for this purchase.If you constructed a balance sheet reflecting this transaction,the total assets would be:

Question

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The total assets would be $10,000, which is the total value of the stock purchased. The $8,000 payment made in cash and the $2,000 borrowed would appear on the liabilities side of the balance sheet. However, since there is no information provided about any other assets or liabilities, the total liabilities cannot be determined.

Ann Just Purchased $10,000 of Stock