Bledsoe Company received $17,000 cash from the issue of stock on January 1, 2016. During 2016 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 2016,
A.Total assets increased by $20,100.
B. Total assets increased by $600.
C. Total assets increased by $26,100.
D. Total assets did not change.
Answer:A
Bledsoe Company received $17,000 cash from the issue of stock on January 1, 2016. During 2016 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 2016,
A.Total assets increased by $20,100. B. Total assets increased by $600. C. Total assets increased by $26,100. D. Total assets did not change.