Troy Co Began Operations on January 1, 2011, with $100,000 from from the Issuance

question 66

Multiple Choice

Troy Co. began operations on January 1, 2011, with $100,000 from the issuance of stock and borrowed funds of $15,000. Net income for 2011 was $5,000 and Troy paid a $400 cash dividend on December 15. No additional activities affected owners' equity in 2011. At December 31, 2011, Troy's liabilities had increased to $18,800. In Troy's December 31, 2011, balance sheet, total assets should be reported at

• A) $119,600.
• B) $120,000.
• C) $123,400.
• D) $138,400.

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Definitions:

Bends Over

The action of leaning forward or curving the spine, typically to reach or pick something up.

Saphenous Vein

A large vein located in the leg and thigh, often used for grafts in coronary artery bypass surgery due to its length and size.

Major Vein

A large blood vessel that carries blood towards the heart from various parts of the body, essential for the circulatory system.

Legs

Limbs on the lower part of the body, enabling movement and support of an individual's weight.