Question

Bartex​, a new​ company, completed these transactions.

1. Stockholders invested $ 56,000 cash and inventory with a fair value of $ 34,000.
2. Sales on​ account, $ 22,000.
What will Bartex​'s total assets​ equal?

Answer 1

$112,000

Step-by-step explanation:

The computation of the total asset is shown below:

= Cash balance + inventory balance + account receivable

= $56,000 + $34,000 + $22,000

= $112,000

Since the cash is invested so cash is a part of the total asset plus the inventory is also a part of total asset

And the sales are made for an account so it is on a credit basis and the same is recognized as an account receivable