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Jimmy co. began its business on January first 2020. The company had the following transactions during 2020. They then issued 400 shares of common stock with a par value of $.10 per share for an issuance price of $5 per share. Followed by purchasing inventory costing $1,800. Paid for half in cash and the other half on account. Repurchased 3 shares of the common stock for $12 per share. Borrowed $5,000 from the bank. Recorded interest expense of $300 on the loan but paid only $250 during the year. The remaining interest will be paid in 2021. Sold inventory that cost $300 for a sales price of $400 on account. Purchased machinery costing $6,000 with a note payable. Recorded $90 depreciation. By assuming the company uses the accrual method of accounting, what was the amount for total assets on 12/31/2020?

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