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?

Question

Valerie Daniels

Business

11 November, 13:05

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?

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Dallas Kemp · Answer 1

Cash at the end of June 22000

Explanation:

Invested 85000

Purchase Building - 43000

Inventory - 24000

Services 15000

Purchase supplies - 7000

Utilities - 4000

Cash at the end of June 22000