During February 2014, Its First Month of Operations, the Owner

question 131

Multiple Choice

During February 2014, its first month of operations, the owner of Alona Enterprises invested cash of $75,000. Alona had cash revenues of $12,000 and paid expenses of $21,000. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 28?

• A) $9,000 credit
• B) $66,000 debit
• C) $87,000 debit
• D) $54,000 credit

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Definitions:

Peripheral Countries

Nations that are less economically developed with minimal influence in the global economic system, often exploited by more dominant, economically powerful countries.

Taiwan

An island in East Asia, known for its dynamic economy and vibrant democracy, despite complex international status and relations with China.

South Korea

A country located in East Asia, known for its advanced technology and vibrant culture, officially called the Republic of Korea.

Postcolonial Countries

Nations that gained independence after being colonized, continuing to face challenges related to identity, development, and legacy issues.