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20 June, 19:29

Cartex , a new company, completed these transactions. 1. Stockholders invested $ 53 comma 000 cash and inventory with a fair value of $ 28 comma 000. 2. Sales on account, $ 23 comma 000. What will Cartex 's total assets equal? A. $ 53 comma 000 B. $ 81 comma 000 C. $ 76 comma 000 D. $ 104 comma 000

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  1. 20 June, 19:59
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    D. $ 104,000

    Explanation:

    Cash $53,000

    Inventory $28,000

    Accounts Receivable $23,000

    Total Assets $104,000

    An asset is a resource with economic value that an individual, corporation or country owns or controls with the expectation that it will provide a future benefit.
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