Bledsoe Company Acquired $17,000 Cash by Issuing Common Stock on January

question 37

Multiple Choice

Bledsoe Company acquired $17,000 cash by issuing common stock on January 1,Year 1.During Year 1,Bledsoe earned $8,500 of revenue on account.The company collected $6,000 cash from customers in partial settlement of its accounts receivable and paid $5,400 cash for operating expenses.Based on this information alone,what was the impact on total assets during Year 1?

• 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.

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Definitions:

Independent Disciplines

Different fields or areas of study that operate autonomously and have their own set of principles and methods.

Biopsychosocial Approach

A holistic model of health that considers biological, psychological, and social factors in understanding and treating illness.

Levels of Analysis

In social science, psychology, and biology, refers to the different ways of looking at the same phenomenon, ranging from biological to individual to societal perspectives.

Cognitive Perspective

A psychological approach that focuses on how mental processes such as perception, memory, and problem-solving work and how they influence behavior.