Bledsoe Company received $15,000 cash from the issue of stock on January 1, 2013. During 2013 Bledsoe earned $8,500 of revenue on account. The company collected $6,000 cash from accounts receivable and paid $5,400 cash for operating expenses. Based on this information alone, during 2013.
A)Total assets increased by $24,100.
B)Total assets increased by $600.
C)Total assets increased by $18,100.
D)Total assets did not change.

Question

Quizplus · Accepted Answer

$15,000 (cash) + $8,500 (accounts receivable) + $6,000 (cash) - $6,000 (accounts receivable) - $5,400 (cash) = $18,100 increase

Bledsoe Company Received $15,000 Cash from the Issue of Stock