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:

Lean Manufacturing

A structured strategy to decrease waste production in manufacturing processes while maintaining efficiency.

Nonfinancial Measures

Performance metrics that do not involve monetary units but measure aspects such as customer satisfaction, quality, and employee engagement.

Financial Accounting Measures

Metrics and calculations used to record, summarize, and report the financial position and performance of a business according to accepted accounting principles.

Long-Term Operating Decisions

Strategic choices made by management concerning the long-term operations of a company, including investments in capital projects, product development, and market expansion strategies.