Assume all transactions are cash transactions

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Reference no: EM131219706

Petras Company engaged in the following transactions during 2012, its first year in operations: (Assume all transactions are cash transactions)

1) Acquired $1,550 cash from the issue of common stock.

2) Borrowed $1,020 from a bank.

3) Earned $1,200 of revenues.

4) Paid expenses of $370.

5) Paid a $170 dividend.

During 2013, Petras engaged in the following transactions: (Assume all transactions are cash transactions)

1) Issued an additional $925 of common stock.

2) Repaid $640 of its debt to the bank.

3) Earned revenues of $1,350.

4) Incurred expenses of $600.

5) Paid dividends of $220.

The amount of assets on Petras's 2013 balance sheet is?

Reference no: EM131219706

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