Falcon Services Was Organized on October 1, 2016

question 67

Essay

Falcon Services was organized on October 1, 2016.The company received a contribution of $2,000 from each of the two principal owners.During the month, Falcon Services provided services for cash of $1,400 and services on account for $600, received $350 from customers in payment of their accounts, purchased supplies on account for $800 and equipment on account for $1,050, received a utility bill for $150 that will not be paid until November, and paid the full amount due on the equipment.
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REQUIRED: Show your work to determine the company's Cash balance on October 31, 2016.

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Definitions:

Variable Interval Schedule

A reinforcement schedule in operant conditioning where a response is rewarded after an unpredictable amount of time has passed, enhancing response consistency.

Fixed Interval Schedule

A type of conditioning schedule where a reward or reinforcement is administered after a set period of time has passed, assuming the required response has been made.

Continuous Reinforcement

A method of learning that involves giving a reward after every correct response in order to reinforce the desired behavior.

Secondary Reinforcement

A stimulus that becomes reinforcing through its association with a primary reinforcer.