Biedsoe Company received $17,000 cash from the issue of stock on January 1, Year 1. During 1.
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Biedsoe Company received $17,000 cash from the issue of stock on January 1, Year 1. During 1. Biedsoe earned $8,500 of revenue on account. The company collected $6,000 cash from account receivable and pain %5,400 cash for operating expenses. Based on this information alone, during year 1.
a. Total assets increased by $20,100.
b. Total assets did not change.
c. Total assets increased by $26,300.
d. Total assets increased by $600..
Related Book For
Intermediate Accounting
ISBN: 978-0324659139
11th edition
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
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