Margot starts a new business and contributes $20,000 in cash; she also borrows $25,000 from her local bank. She utilizes the cash to purchase supplies for $5,000 and a computer system for $10,000. After these transactions, the company's total resources are:

Question

Business

Jake Hernandez

3 September, 21:56

Margot starts a new business and contributes $20,000 in cash; she also borrows $25,000 from her local bank. She utilizes the cash to purchase supplies for $5,000 and a computer system for $10,000. After these transactions, the company's total resources are:

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Answers (1)

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Steven · Answer 1

total resources = $45,000

Explanation:

given data

contributes = $20,000

borrows = $25,000

purchase supplies = $5,000

equipment computer system = $10,000

solution

$45,000 [cash 30,000 (20,000+25,000-5,000-10,000) equipment 10,000; supplies 5,000]

we get here company's total resources are as

total resources = cash + purchase supplies + equipment computer system ... 1

here cash = $20,000 + $25,000 - $5,000 - $10,000

cash = $30,000

so from equation 1

total resources = $30,000 + $5,000 + $10,000

total resources = $45,000