Following are transactions of Gotebo Tanners, Inc., a new company, during the month of January 2012: 1. Issued 10,000 shares of common stock for $15,000 cash.
2) Purchased land for $12,000, signing a note payable for the full amount.
3) Purchased office equipment for $1,200 cash.
4) Received cash of $14,000 for services provided to customers during the month.
5) Purchased $300 of office supplies on account.
6) Paid employees $10,000 for their first month's salaries.
What was the balance of Gotebo's Cash account following these six transactions?
A) $29,800.
B) $19,300.
C) $17,800.
D) $22,400.
Correct Answer:
Verified
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