Lori Nichols Started an Engineering Firm, Engineering Enterprises P

Multiple Choice

Lori Nichols started an engineering firm, Engineering Enterprises P.C. During its first month of operations, the following transactions were completed: I. Lori invested $35,000 in the business, which in turn issued common stock to her.
II. The business purchased equipment on account for $10,000.
III. The business provided engineering services on account, $13,000.
IV. The business paid salaries to the receptionist, $4000.
V. The business received cash from a customer as payment on account $11,000.
VI. The business borrowed $13,000 from the bank, issuing a note payable.
At the end of the month, cash equals:

A) $35,000.
B) $44,000.
C) $55,000.
D) $86,000.