Question

A company's January 1, 2019 balance sheet reported total assets of $153,000 and total liabilities of $61,500. During January 2019, the company completed the following transactions:______. (A) paid a note payable using $11,500 cash (no interest was paid); (B) collected a $10,500 accounts receivable; (C) paid a $5,300 accounts payable; and (D) purchased a truck for $5,300 cash and by signing a $21,500 note payable from a bank. The company's January 31, 2019 balance sheet would report which of the following?Assets Liabilities Stockholders's Equity$163,000 $77,700 $85,300Assets Liabilities Stockholders's Equity$153,000 $61,500 $91,500Assets Liabilities Stockholders's Equity$174,500 $105,100 $69,400Assets Liabilities Stockholders's Equity$157,700 $66,200 $91,500

Answer 1

Answer:

d. Assets, Liabilities, Stockholders's Equity [$157,700, $66,200, $91,500]

Explanation:

Accounting equation

                                      Assets     =     Liabilities    +    Equity

Beginning Balance     $153,000           $61,500           $91,500

1.                                  -$11,500             -$11,500

2.                                  $10,500

                                   -$10,500

3.                                 -$5,300              -$5,300

4.                                  $26,800             $21,500

                                   -$5,300                                                      

Total                             $157,700            $66,200         $91,500