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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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