15 October, 05:32

# 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.

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Answers (1)
1. 15 October, 07:03
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Total assets is increased by \$18,100

Explanation:

The computation is shown below:

= Cash received from the issue of stock + revenue earned on account - cash paid for operating expenses

= \$15,000 + \$8,500 - \$5,400

= \$18,400

This positive amount shows that there is an increase in the total assets for \$18,100

The cash collected from the account receivable is not relevant. Hence ignored it
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