Astoria Co. had the following transactions during the month of August, 2010:
* Cash received from bank loans was $20,000.
* Dividends of $9,500 were paid to shareholders in cash.
* Revenues earned and received in cash amounted to $33,500
* Expenses incurred and paid were $26,000
-Refer to the above data. At the beginning of August, 2010, equity in Astoria was $160,000. Given the transactions of August, 2010, what will equity be at the end of the month?
A) $167,500.
B) $150,500.
C) $193,500.
D) $158,000.

Question

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The Answer of  Astoria Co. had the following transactions during the month of August, 2010:
* Cash received from bank loans was $20,000.
* Dividends of $9,500 were paid to shareholders in cash.
* Revenues earned and received in cash amounted to $33,500
* Expenses incurred and paid were $26,000
-Refer to the above data. At the beginning of August, 2010, equity in Astoria was $160,000. Given the transactions of August, 2010, what will equity be at the end of the month?
A) $167,500.
B) $150,500.
C) $193,500.
D) $158,000.