A company's January 1,2010 balance sheet reported total assets of $150,000 and total liabilities of $60,000.During January 2010,the company completed the following transactions:
(A)paid a note payable using $10,000 cash (no interest was paid); (B)collected a $9,000 accounts receivable; (C)paid a $5,000 accounts payable; and (D)purchased a truck for $5,000 cash and by signing a $20,000 note payable from a bank.The company's January 31,2010 balance sheet would report which of the following? $$\begin{array} { l l c }
{ \text { Assets } } & \text { Liabilities } & \text { Stockholders’ Equity } \
\text { A. } \$ 150,000 & \$ 60,000 & \$ 90,000 \
\text { B. } \$ 155,000 & \$ 65,000 & \$ 90,000 \
\text { C. } \$ 160,000 & \$ 75,000 & \$ 85,000 \
\text { D. } \$ 170,000 & \$ 100,000 & \$ 70,000
\end{array}$$

Question

A company's January 1,2010 balance sheet reported total assets of $150,000 and total liabilities of $60,000.During January 2010,the company completed the following transactions:
(A)paid a note payable using $10,000 cash (no interest was paid); (B)collected a $9,000 accounts receivable; (C)paid a $5,000 accounts payable; and (D)purchased a truck for $5,000 cash and by signing a $20,000 note payable from a bank.The company's January 31,2010 balance sheet would report which of the following? $$\begin{array} { l l c } 
{ \text { Assets } } & \text { Liabilities } & \text { Stockholders’ Equity } \
\text { A. } \$ 150,000 & \$ 60,000 & \$ 90,000 \
\text { B. } \$ 155,000 & \$ 65,000 & \$ 90,000 \
\text { C. } \$ 160,000 & \$ 75,000 & \$ 85,000 \
\text { D. } \$ 170,000 & \$ 100,000 & \$ 70,000
\end{array}$$

Quizplus · Accepted Answer

The Answer of A company's January 1,2010 balance sheet reported total assets of $150,000 and total liabilities of $60,000.During January 2010,the company completed the following transactions:
(A)paid a note payable using $10,000 cash (no interest was paid); (B)collected a $9,000 accounts receivable; (C)paid a $5,000 accounts payable; and (D)purchased a truck for $5,000 cash and by signing a $20,000 note payable from a bank.The company's January 31,2010 balance sheet would report which of the following? $$\begin{array} { l l c } 
{ \text { Assets } } & \text { Liabilities } & \text { Stockholders’ Equity } \
\text { A. } \$ 150,000 & \$ 60,000 & \$ 90,000 \
\text { B. } \$ 155,000 & \$ 65,000 & \$ 90,000 \
\text { C. } \$ 160,000 & \$ 75,000 & \$ 85,000 \
\text { D. } \$ 170,000 & \$ 100,000 & \$ 70,000
\end{array}$$

A Company's January 1,2010 Balance Sheet Reported Total Assets of $150,000