A company's January 1, 2014 balance sheet reported total assets of $163,000 and total liabilities of $66,500. During January 2014, the company completed the following transactions: (A) paid a note payable using $16,500 cash (no interest was paid); (B) collected a $15,500 accounts receivable; (C) paid a $6,300 accounts payable; and (D) purchased a truck for $6,300 cash and by signing a $26,500 note payable from a bank. The company's January 31, 2014 balance sheet would report which of the following? Assets Liabilities Stockholders' Equity
A company's January 1, 2014 balance sheet reported total assets of $163,000 and total liabilities of $66,500. During January 2014, the company completed the following transactions: (A) paid a note payable using $16,500 cash (no interest was paid); (B) collected a $15,500 accounts receivable; (C) paid a $6,300 accounts payable; and (D) purchased a truck for $6,300 cash and by signing a $26,500 note payable from a bank. The company's January 31, 2014 balance sheet would report which of the following? Assets Liabilities Stockholders' Equity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
A company's January 1, 2014 |
Assets | Liabilities |
![Multiple Choice
O
O
O
O
$163,000
$173,000
$166,700
$189,500
$66,500
$86,700
$70,200
$122,100
$96,500
$86,300
$96,500
$67,400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd960bb05-f8e9-458e-8dc8-ba896c5de05d%2Fd64c4ec4-5cde-42e2-8ffb-baa11ef2cc6b%2Fu06uekl_processed.png&w=3840&q=75)
Transcribed Image Text:Multiple Choice
O
O
O
O
$163,000
$173,000
$166,700
$189,500
$66,500
$86,700
$70,200
$122,100
$96,500
$86,300
$96,500
$67,400
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