Question troy co began operations on january 1 2011 with, Ask an Expert

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Question: Troy Co. began operations on January 1, 2011, with $100000 from the issuance of stock and borrowed funds of $15000. Net income for 2011 was $5000 and Troy paid a $400 cash dividends on December 15. No additional activities affected owner's equity in 2011. At December 31, 2011 Troy's liabilities had increased to $18000. In troys's December 31, 2011, balance sheet , total assets shoud be reported at

$119600

$120000

$123400

$138400

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92572046

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