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?
A)$18,000
B)$22,000
C)$33,000
D)$46,000

Question

Quizplus · Accepted Answer

Issue Stock $85,000 - Buy Building $43,000 - Buy Inventory $24,000 + Service Revenue $15,000 - Supplies paid $7,000 - Utilities paid $4,000 = $22,000

Jenkins Company Began Business in June When Stockholders Invested $85,000