Define issuance of stock and borrowed funds

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Reference no: EM131763363

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

Reference no: EM131763363

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