Question

Question 6

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?



A. €60,000
B. €50,000
C. €40,000




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Answer 1

Answer:

answer A.

€60,000.......................

Answer 2

Answer:

Answer B)€50,000 because I know it