Table 1-2
Following Is a List Showing the Account Balances

question 35

Multiple Choice

Table 1-2
Following is a list showing the account balances of various assets, liabilities, revenues, and expenses for Tim's Landscaping at December 31, 2019, the end of its first year of operations. $\begin{array} { | l | r | } \hline \text { Accounts receivable } & \$ 30,000 \\\hline \text { Accounts payable } & 7,000 \\\hline \text { Salary expense } & 9,000 \\\hline \text { Repairs expense } & 1,600 \\\hline \text { Truck } & 17,000 \\\hline \text { Equipment } & 12,600 \\\hline \text { Notes payable } & 16,400 \\\hline \text { Cash } & 13,600 \\\hline \text { Supplies expense } & 3,200 \\\hline \text { Service revenue } & 25,600 \\\hline \text { Gasoline expense } & 1,600 \\\hline \text { Salary payable } & 4,400 \\\hline\end{array}$ The owner, Tim Brown, invested $45,200 during the year and withdrew $10,000 during the year for personal use.
-Refer to Table 1-2. Owner's equity at December 31, 2019, was:

• A)$26,800.
• B)$45,400.
• C)$45,200.
• D)$37,400.

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Definitions:

Hard Skills

Technical skills or specific abilities that are learned through education or training and are necessary for job performance.

Social Graces

The skills used to interact politely in social situations, including manners, etiquette, and diplomacy.

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The advancement or development of a meeting towards its goals or objectives.

Monopolize Discussion

To dominate a conversation, leaving little room for others to contribute.