For the remaining questions, please consider the following transactions that happened upon the incorporation of Berry Company by its owner, John Berry, during the first week of January:

It received 50,000 in cash from John Berry as capital.

It borrowed 30,000 from a local bank.

It purchased 15,000 of equipment for cash.

It purchased 20,000 of inventory on account.

It pre-paid 3,000 for the office rent and 2,000 for the insurance.

What is the cash balance at the end of the week?

0 / 1 point

60,000

80,000

40,000

50,000

7.

Question7

What are the total current assets at the end of the week?

1 / 1 point

80,000

75,000

85,000

90,000

8.

Question8

What are the total liabilities at the end of the week?

0 / 1 point

20,000

30,000

100,000

50,000

9.

Question9

What are the total assets at the end of the week?

0 / 1 point

15,000

100,000

80,000

50,000