Acompany was formed with $60,400 cash contributed by its owners in exchange for common stock. the company borrowed $30,400 from a bank. the company purchased $10,400 of inventory and paid cash for it. the company also purchased $70,400 of equipment by paying $10,000 in cash and issuing a note for the remainder. what is the amount of the total assets to be reported on the balance sheet?

The amount of the total assets to be reported on the balance sheet is $151,200

Explanation:

The total assets comprise of current assets, fixed assets ,and the intangible assets

The current assets include cash, stock, account receivable, etc

Fixed assets include plant & machinery, land, equipment, furniture & fittings, etc.

And, the intangible assets include patents, copyrights, goodwill, etc.

The computation of the total assets are shown below:

= Cash + inventory + equipment

where,

Cash = Cash contribution -  purchase of inventory for cash - equipment purchased for cash + borrowed amount

= $60,400 - $10,400 - $10,000 + $30,400

= $70,400

And, the remaining items values would remain the same

Now put these values to the above formula  

So, the value would equal to

= $70,400 + $10,400 + $70,400

= $151,200

answer; /// i believe its (bas design);

a. $48.75

is the answer to your question