Park & Company was recently formed with a $6,300 investment in the company by stockholders...
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Accounting
Park & Company was recently formed with a $6,300 investment in the company by stockholders in exchange for common stock. The company then borrowed $3,300 from a local bank, purchased $1,130 of supplies on account, and also purchased $6,300 of equipment by paying $2,130 in cash and signing a promissory note for the balance. Based on these transactions, the company's total assets are:
Multiple Choice
$11,730.
$9,600.
$14,900.
$12,600.
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