During the first month of operations, the following transactions occur for Orison Supply Store. The owner invested $105,000 into the Business. Equipment worth $84,000 was purchased in part by a $63,000 bank loan. Supplies totalling $10,500 were purchased by cash. Inventory of $42,000 was purchased on credit. Rent for the following three months of $31,500 was paid. What are the total assets after these transactions? (Ignore GST for this question)
During the first month of operations, the following transactions occur for Orison Supply Store. The owner invested $105,000 into the Business. Equipment worth $84,000 was purchased in part by a $63,000 bank loan. Supplies totalling $10,500 were purchased by cash. Inventory of $42,000 was purchased on credit. Rent for the following three months of $31,500 was paid. What are the total assets after these transactions? (Ignore GST for this question)
Chapter6: Business Expenses
Section: Chapter Questions
Problem 43P
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During the first month of operations, the following transactions occur for Orison Supply Store. The owner invested $105,000 into the Business. Equipment worth $84,000 was purchased in part by a $63,000 bank loan. Supplies totalling $10,500 were purchased by cash. Inventory of $42,000 was purchased on credit. Rent for the following three months of $31,500 was paid. What are the total assets after these transactions? (Ignore GST for this question)
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