Question
Petras Company engaged in the following transactions during 2012, its first year in operations: ( Assume all transactions are cash transactions ) 1) Acquired $1,300
Petras Company engaged in the following transactions during 2012, its first year in operations: (Assume all transactions are cash transactions) 1) Acquired $1,300 cash from the issue of common stock. 2) Borrowed $770 from a bank. 3) Earned $950 of revenues. 4) Paid expenses of $320. 5) Paid a $120 dividend. During 2013, Petras engaged in the following transactions: (Assume all transactions are cash transactions) 1) Issued an additional $675 of common stock. 2) Repaid $465 of its debt to the bank. 3) Earned revenues of $1,100. 4) Incurred expenses of $500. 5) Paid dividends of $170.
The amount of assets on Petras's 2013 balance sheet is
***CAN SOMEONE SHOW ME THE STEPS TO GET THE ASSETS ON PETRAS 2013 BALANCE SHEET ?
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