Bledsoe Company Received $17,000 Cash from the Issue of Stock

question 116

Multiple Choice

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.