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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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  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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