The Following Transactions Occurred During July: 1

question 47

Multiple Choice

The following transactions occurred during July: 1.Received $900 cash for services provided to a customer during July.
2) Received $2,200 cash investment from Bob Johnson,the owner of the business.
3) Received $750 from a customer in partial payment of his account receivable which arose from sales in June.
4) Provided services to a customer on credit,$375.
5) Borrowed $6,000 from the bank by signing a promissory note.
6) Received $1,250 cash from a customer for services to be rendered next year.
What was the amount of revenue for July?

• A)$900.
• B)$1,275.
• C)$2,525.
• D)$3,275.
• E)$11,100.

Develop skills in preparing manufacturing overhead responsibility performance reports and analyze variances.

Distinguish between fixed costs in master and flexible budgets.

Calculate and understand the implications of Return on Investment (ROI) for various business decisions.

Develop the ability to prepare and analyze performance reports for profit centers.

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Definitions:

Strong Magnets

Magnets with a high level of magnetic force, used in various applications from industrial machinery to medical devices.

Magnetic Resonance Imaging (MRI)

A diagnostic test using magnetic waves to visualize internal body structures.

Protons

Positively charged subatomic particles found in the nucleus of an atom and contributing to the atom's mass.

Field

An area of study, work, or interest; a domain.