Solved: The company purchased 4000 worth of office furniture on 5th, Accounting Basics

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The company purchased 4000 worth of office furniture on 5th

Question - The closing balance as at 30th June 2010 for Tito & Sons Company was $12,000 in cash, $3,800 office equipment and $5,000 Bank loan. On 1st July, the company paid the bank loan in full with a 10% interest. The company purchased $4,000 worth of office furniture on 5th July 2010. Calculate the total assets of the company after the transactions.

A. $7,800

B. $7,500

C. $15,300

D. $300

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Accounting Basics: The company purchased 4000 worth of office furniture on 5th

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Accounting Basics: The company purchased 4000 worth of office furniture on 5th

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