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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1. 14 April, 21:19
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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
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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