Bledsoe Company received $17,000 cash from the issue of stock on January 1,2016.During 2016 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 2016,
A)Total assets increased by $20,100.
B)Total assets increased by $600.
C)Total assets increased by $26,100.
D)Total assets did not change.

Question

Quizplus · Accepted Answer

The total assets increased by $20,100, calculated as $17,000 from stock issuance plus $6,000 collected from accounts receivable minus $5,400 paid for expenses.

Bledsoe Company Received $17,000 Cash from the Issue of Stock