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Johnson Waterworks Corporation provides plumbing services. Transactions during the first year of operations are provided below. a) Received $10,000 cash and issued common stock to
Johnson Waterworks Corporation provides plumbing services. Transactions during the first year of operations are provided below. a) Received $10,000 cash and issued common stock to Mitchell Johnson. b) Paid $1,200 for equipment to be used for plumbing repairs. c) Borrowed $11,000 from a local bank and deposited the money in the checking account. d) Paid $100 in rent for the year. e) Paid $200 for plumbing supplies to be used on various jobs next year. 1) Completed a plumbing repair for a law firm and received $3,400. Calculate the amount of total assets at the end of the first year. Assume the plumbing supplies of $200 are left at the end of the year. OA. $1,400 OB. $1,200 OC. $24,300 OD. $21,000
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