Strum Hardware has total assets of $60,000.What are the total assets if new equipment is purchased for $5,000 cash?
A)$45,000
B)$50,000
C)$55,000
D)$60,000

Name: Strum Hardware has total assets of $60,000.What are the total assets if new equipment is purchased for $5,000 cash? A)$45,000 B)$50,000 C)$55,000 D)$60,000
Brand: Quizplus
Rating: 4.9 (40 reviews)

Question

Quizplus · Accepted Answer

Purchasing new equipment for $5,000 cash does not change the total assets, as cash decreases by $5,000 and equipment increases by $5,000, keeping total assets at $60,000.

Strum Hardware Has Total Assets of $60,000