Marlow Co. started a new business on October 1, 2021. That same day, Marlow Co. also received $400,000 of cash from issuing common stock and borrowed $190,000 from a friend. On October 1, 2021 Marlow Co. also purchased equipment for $302,400. The equipment has a useful life of 108 months. On October 1, 2021, Marlow also paid $91,200 of cash to rent office space for a 24 month period. During 2021, the Company provided services valued at $35,400 and had collected $14,160 of that amount at year-end. The company will collect the remaining portion in the following year.The company's payroll for 2021 was $12,000, which was paid in full during 2021.

Use this information to find the company's balance of total assets as of 12/31/2021?

Answer rating: 100% (QA)

To find the balance of total assets as of 12312021 we need to consider all the transactions that occ... View the full answer