Sharon Samson owns Reliable Waterworks

by | Sep 15, 2021 | Homework Help

Sharon Samson owns Reliable Waterworks, which provides plumbing service. Transactions of Reliable Waterworks during the first year of operations are given below:Sharon contributed $14,000 into a new checking account for the business and recorded capital contribution.Paid $2,000 for equipment to be used for plumbing repairsBorrowed $15,000 from a local bank and deposited the money in the checking accountPaid $600 as rent for the yearPaid $500 for plumbing supplies to be used on various jobs in the futureCompleted a plumbing repair project for a local lawyer and received $3,500Calculate the amount of total assets balance at the end of the first year.A 2,500B 2,000C 29,000D 31,000

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