Consider the following transactions:
(i)issued share capital for cash of $250 000
(ii)received $50 000 from accounts receivable
(iii)paid $30 000 to accounts payable
(iv)purchased new equipment for $160 000 on credit
Total assets increased by:
A) $220 000.
B) $230 000.
C) $380 000.
D) $430 000.

Question

Consider the following transactions: 
(i)issued share capital for cash of $250 000
(ii)received $50 000 from accounts receivable
(iii)paid $30 000 to accounts payable
(iv)purchased new equipment for $160 000 on credit
Total assets increased by:
A) $220 000.
B) $230 000.
C) $380 000.
D) $430 000.

Quizplus · Accepted Answer

The Answer is C

Consider the Following Transactions