Tn80-0a Company began operations on June 1, 2022. The company entered into the following transactions during...

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Tn80-0a Company began operations on June 1, 2022. The company entered into the following transactions during its first month of operations: June 1: June 4: June 16: June 19: June 22: June 30: June 30: Sold common stock to owners in the amount of $264,000. Purchased a parcel of land costing $101,000 by paying $46,000 in cash and agreeing to pay the remainder within 90 days. Purchased inventory costing $83,000 on account. Tn80-0a Company sold the land that was purchased on June 4 for $117,000 cash. Sold three-fourths of the inventory purchased on June 16 for $94,000. The customer did not pay any cash at the time of purchase, but did agree to pay the entire balance due within sixty days. Tn80-0a Company earned and received $11,000 of interest on its bank accounts in June. Received a $17,000 bill for advertising done during the month of June. Tn80-0a Company will pay the bill on its due date of July 7. Calculate the amount of total assets reported in Tn80-0a Company's balance sheet at June 30, 2022. Tn80-0a Company began operations on June 1, 2022. The company entered into the following transactions during its first month of operations: June 1: June 4: June 16: June 19: June 22: June 30: June 30: Sold common stock to owners in the amount of $264,000. Purchased a parcel of land costing $101,000 by paying $46,000 in cash and agreeing to pay the remainder within 90 days. Purchased inventory costing $83,000 on account. Tn80-0a Company sold the land that was purchased on June 4 for $117,000 cash. Sold three-fourths of the inventory purchased on June 16 for $94,000. The customer did not pay any cash at the time of purchase, but did agree to pay the entire balance due within sixty days. Tn80-0a Company earned and received $11,000 of interest on its bank accounts in June. Received a $17,000 bill for advertising done during the month of June. Tn80-0a Company will pay the bill on its due date of July 7. Calculate the amount of total assets reported in Tn80-0a Company's balance sheet at June 30, 2022.

Answer rating: 100% (QA)

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