Reference no: EM132575560
Gulf Waterworks Corporation provides plumbing services. Transactions during the first year of operations are given below.
?a) Received $8,000 cash and issued common stock to Jason Robinson.
?b) Paid $5,000 cash for equipment to be used for plumbing repairs.
?c) Borrowed $29,000 from a local bank and deposited the money in the checking account.
?d) Paid $900 rent for the year.
?e) Purchased $1,700 of office supplies on account.
?f) Completed a plumbing repair project for a local lawyer and received $3,400 cash.
Question 1: Calculate the amount of total? stockholders' equity at the end of the first year after recording the transactions. Assume office supplies of $1,700 are left at the end of the year.
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