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Astoria Company had the following transactions during the month of August Year 1: (1) Cash received from bank loans was $10,000. (2) Dividends of
Astoria Company had the following transactions during the month of August Year 1: (1) Cash received from bank loans was $10,000. (2) Dividends of $8,500 were paid to stockholders in cash. (3) Revenues earned and received in cash amounted to $23,500 (4) Expenses incurred and paid were $21,000. At the beginning of August, Year 1, owners' equity in Astoria was $150,000. Given the transactions of August, what will be the owners' equity be at the end of the month? Multiple Choice $152,500. $141,500. $173.500
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