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

question 24

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. Not including the investment, the net change in owner's equity for the year ended December 31, 2019, was:

• A)an increase of $200.
• B)an increase of $45,400.
• C)an increase of $10,200.
• D)a decrease of $15,600.

Understand how to use Excel to project future data trends.

Grasp the concept and application of conditional formatting and calculations.

Learn to use Excel for date and time manipulation.

Understand the use of COUNT and COUNTA functions for data analysis.

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Definitions:

Unemployment

The situation where individuals who are capable of working and are seeking work are unable to find employment.

Classical Notion

An economic theory advocating for free markets, competition, and minimal government intervention in the economy.

Monetary Neutrality

The proposition that changes in the money supply do not affect real variables.

Long-Run Phillips

An economic concept suggesting that there is no long-term trade-off between inflation and unemployment, contrary to the short-run Phillips curve.