Lori Nichols opened an engineering office and titled the business Engineering Enterprises P.C.During its first month of operations,it completed the following transactions: I.Lori invested $30,000 in the business,which in turn issued common stock to her.
V.The business borrowed $8,000 from the bank,issuing a note payable.
At the end of the month,Cash would equal:
A)$30,000.
B)$37,000.
C)$43,000.
D)$61,000.

Question

Lori Nichols opened an engineering office and titled the business Engineering Enterprises P.C.During its first month of operations,it completed the following transactions: I.Lori invested $30,000 in the business,which in turn issued common stock to her.
 V.The business borrowed $8,000 from the bank,issuing a note payable.
At the end of the month,Cash would equal:
A)$30,000. 
B)$37,000. 
C)$43,000. 
D)$61,000.

Quizplus · Accepted Answer

The Answer of Lori Nichols opened an engineering office and titled the business Engineering Enterprises P.C.During its first month of operations,it completed the following transactions: I.Lori invested $30,000 in the business,which in turn issued common stock to her.
 V.The business borrowed $8,000 from the bank,issuing a note payable.
At the end of the month,Cash would equal:
A)$30,000. 
B)$37,000. 
C)$43,000. 
D)$61,000.

Lori Nichols Opened an Engineering Office and Titled the Business