Question
The closing balance as at 30th June 2010 for Tito & Sons Company was $12,000 in cash, $3,800 office equipment and $5,000 Bank loan. On
The closing balance as at 30th June 2010 for Tito & Sons Company was $12,000 in cash, $3,800 office equipment and $5,000 Bank loan. On 1st July, the company paid the bank loan in full with a 10% interest. The company purchased $4,000 worth of office furniture on 5th July 2010. Calculate the total assets of the company after the transactions.
A. $7,800
B. $7,500
C. $15,300
D. $300
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Cost Accounting Principles And Applications
Authors: Horace Brock, Linda Herrington, La Vonda Ramey
7th Edition
0071115609, 978-0071115605
