ABC begins its business on January 1, 2022. The owner invests $5,000 in cash and $5,000 of equipment into the business. ABC borrows $5,000 from the bank. ABC purchases $6,000 of equipment, paying cash for it. ABC provides consulting services to its customers, receiving $4,000 in cash and being owed another $8,000. ABC purchases $1,000 in various supplies from a vendor, promising to pay for those supplies in the future. ABC paid $3,000 cash for the current month rent and another $2,000 for utilities.

As a result of the events from the month, what is the cash balance at the end of the period for ABC?

For all questions, enter the amount without dollar signs or commas. Do not enter any negative amounts. For example, if the answer is $1,500, enter 1500. Flag question: Question 2 Question 22 pts As a result of the events from the month, what is the A/R balance at the end of the period for ABC? For all questions, enter the amount without dollar signs or commas. Do not enter any negative amounts. For example, if the answer is $1,500, enter 1500. Flag question: Question 3 Question 32 pts As a result of the events from the month, what is the Fixed Assets balance at the end of the period for ABC? For all questions, enter the amount without dollar signs or commas. Do not enter any negative amounts. For example, if the answer is $1,500, enter 1500. Flag question: Question 4 Question 42 pts As a result of the events from the month, what is the total assets balance at the end of the period for ABC? For all questions, enter the amount without dollar signs or commas. Do not enter any negative amounts. For example, if the answer is $1,500, enter 1500. Flag question: Question 5 Question 52 pts As a result of the events from the month, what is the Total Liabilities balance at the end of the period for ABC? For all questions, enter the amount without dollar signs or commas. Do not enter any negative amounts. For example, if the answer is $1,500, enter 1500. Flag question: Question 6 Question 62 pts As a result of the events from the month, what is the equity balance at the end of the period for ABC? For all questions, enter the amount without dollar signs or commas. Do not enter any negative amounts. For example, if the answer is $1,500, enter 1500. Flag question: Question 7 Question 72 pts As a result of the events from the month, what is the Liabilities PLUS Equity balance at the end of the period for ABC? For all questions, enter the amount without dollar signs or commas. Do not enter any negative amounts. For example, if the answer is $1,500, enter 1500. Flag question: Question 8 Question 82 pts As a result of the events from the month, what is the total revenue for the period for ABC? For all questions, enter the amount without dollar signs or commas. Do not enter any negative amounts. For example, if the answer is $1,500, enter 1500. Flag question: Question 9 Question 92 pts As a result of the events from the month, what is the total expense for the period for ABC? For all questions, enter the amount without dollar signs or commas. Do not enter any negative amounts. For example, if the answer is $1,500, enter 1500. Flag question: Question 10 Question 102 pts As a result of the events from the month, what is the net income for the period for ABC? For all questions, enter the amount without dollar signs or commas. Do not enter any negative amounts. For example, if the answer is $1,500, enter 1500.

Answer rating: 100% (QA)

Cash balance at the end of the period Initial cash investment 5000 Cash received from consulting services 4000 Cash paid for equipment 6000 Cash paid ... View the full answer