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14 April, 20:33

Bledsoe Company received $28,000 cash from the issue of stock on January 1, 2013. During 2013 Bledsoe earned $9,800 of revenue on account. The company collected $8,600 cash from accounts receivable and paid $6,700 cash for operating expenses. Based on this information alone, during 2013.

o Total assets increased by $39,700.

o Total assets increased by $1,900.

o Total assets increased by $31,100.

o Total assets did not change.

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Answers (2)
  1. 14 April, 21:19
    0
    During 2013:

    Total assets increased by $31,100.

    Explanation:

    Bledsoe Company received $28,000 cash from the issue of stock on January 1, 2013. Total assets increased by $28,000

    Bledsoe earned $9,800 of revenue on account. Account receivable increased by $9,800. Total assets increased by $9,800

    The company collected $8,600 cash from accounts receivable. Cash account increased by $8,600 and Account receivable decreased by $8,600. Total assets did not change.

    The company paid $6,700 cash for operating expenses. Cash account decreased by $6,700. Total assets decreased by $6,700

    During 2013:

    Total assets increased = $28,000 + $9,800 - $6,700 = $31,100
  2. 14 April, 21:50
    0
    Total assets increased by $31,100

    Explanation:

    Given that

    Cash issue from stock = 28000

    Earned revenue = 9800

    Expenses = 6700

    Thus,

    Cash + revenue - operating expenses = assets

    = 28000 + 9800 - 6700

    = 37800 - 6700

    = $31,100

    Therefore, total assets increased by $31,100
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