The balance of Total Assets for Hoop Co. is $800,000 on October 31, 2012. During...
80.2K
Verified Solution
Link Copied!
Question
Accounting
The balance of Total Assets for Hoop Co. is $800,000 on October 31, 2012. During October 2012, the following took place: Sold $70,000 of inventory for $70,000 cash Purchased a $150,000 machine for cash Increased accounts payable $80,000 from acquisitions of inventory on account Wrote off accounts receivable of $40,000 Total Assets for Hoop Co. on October 1 2012 is therefore:
Multiple Choice
$830,000
None of the other alternatives are correct
$700,000
$720,000
$790,000
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.