Question:The balance in all asset accounts combined is $100,000 on December 1. During December, the following transactions took place:  

- Purchase of $10,000 of inventory for cash
- Purchase of $15,000 of machinery on account
- Retirement of $20,000 in bonds with cash

Given this information, what is the combined balance in the asset accounts on December 31? 

A $80,000 
B $115,000 
C $105,000 
D $95,000 

+ Answer
D 

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Md. Habib Ullah

Editor, VCampus

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