Park & Company was recently formed with a $6,000 investment in the company by stockholders in exchange for common stock. The company then borrowed $3,000 from a local bank, purchased $1,100 of supplies on account, and also purchased $6,000 of equipment by paying $2,100 in cash and signing a promissory note for the balance. Based on these transactions, the company's total assets are

Multiple Choice $1,095 $990 $5,665 $5,365

[The following information applies to the questions displayed below.]RunHeavy Corporation (RHC) is a corporation that manages a local band. It had the following activities during its first month. RHC was formed with an investment of $11,900 cash, paid in by the leader of the band on January 3 in exchange for common stock. On January 4, RHC purchased music equipment by paying $2,300 cash and signing an $9,600 promissory note payable in three years. On January 5, RHC booked the band for six concert events, at a price of $2,800 each, but no cash was collected yet. Of the six events, four were completed between January 10 and 20. On January 22, cash was collected for three of the four events. The other two bookings were for February concerts, but on January 24, RHC collected half of the $2,800 fee for one of them. On January 27, RHC paid $3,440 cash for the band’s travel-related costs. On January 28, RHC paid its band members a total of $2,490 cash for salaries and wages for the first…

The following events occurred for Favata Company: a. Received $14,000 cash from owners and issued stock to them. b. Borrowed $11,000 cash from a bank and signed a note due later this year. c. Bought and received $1,200 of equipment on account. d. Purchased land for $20,000; paid $1,800 in cash and signed a long-term note for $18,200. e. Purchased $7,000 of equipment; paid $1,800 in cash and charged the rest on account. Required: For each of the above events, prepare journal entries. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 Transaction a 2 Received $14,000 cash from owners and issued stock to them. Record the transaction. Note: Enter debits before credits. 3 4 Record entry 5 General Journal Clear entry Debit Credit View general journal

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The transactions relating to the formation of Blue Co. Stores Inc., and its first month of operations follow. a. The firm was organized and the stockholders invested cash of $16,000. b. The firm borrowed $10,000 from the bank; a short-term note was signed. c. Display cases and other store equipment costing $3,500 were purchased for cash. The original list price of the equipment was $3,800, but a discount was received because the seller was having a sale. d. A store location was rented, and $2,800 was paid for the first month's rent. e. Inventory of $30,000 was purchased; $18,000 cash was paid to the suppliers, and the balance will be paid within 30 days. f. During the first week of operations, merchandise that had cost $8,000 was sold for $13,000 cash. g. A newspaper ad costing $200 was arranged for; it ran during the second week of the store's operations. The ad will be paid for in the next month. h. Additional inventory costing $8,400 was purchased; cash of $2,400 was paid, and the…

Husky Company has provided the following information for its most recent year of operation:   Cash collected from customers totaled $90,000. Cash borrowed from banks totaled $33,100. Cash paid to employees for salaries totaled $32,800. Cash received from selling Husky common stock to stockholders totaled $48,000. Cash payments to banks for repayment of money borrowed totaled $8,200. Cash paid to suppliers totaled $8,600. Land costing $26,000 was sold for $26,000 cash. Cash paid for dividends to stockholders totaled $4,000.   How much was Husky's cash flow from operating activities?

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