Reference no: EM13797059
Assume a company's January 1, 2009 financial position was: Assets, $150,000 and liabilities, $60,000. During January 2009, the company completed the following transactions: A. paid on a note payable $10,000 (no interest was paid); B. collected accounts receivable $9,000; C. paid an accounts payable $5,000 and D. purchased a truck, $5,000 cash and a $20,000 note payable from a bank. The company's January 31, 2009 financial position is:
a. Assets=$150,000; Liabilities=$60,000; Stockholders Equity = 90,000
b. assets = $155,000; liabilities = 65,000 Stockholders equity = 90,000
c. assets = 160,000; liabilities = 75,000; SE = 85,000
d. assets = 170,000; liabilities = 100,000, SE= 70,000
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