The Following Transactions Occurred During July

question 128

Multiple Choice

The following transactions occurred during July:
1.Received $800 cash for services performed during July.
2.Received $5,000 cash from the issuance of common stock to owners.
3.Received $400 from a customer as payment for services performed during June.
4.Billed $3,500 to customers for services performed on account in July.
5.Borrowed $2,500 from the bank and signed a promissory note.
6.Received $1,000 from a customer for services to be performed during August.
-Use the information above to answer the following question.As a result of these transactions,what is the amount of the increase to the Cash account?

• A) $9,700.
• B) $13,200.
• C) $2,200.
• D) $7,200.

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Definitions:

Extra Hours

Additional hours worked beyond the usual or scheduled working time, often eligible for overtime compensation.

Workflow

The sequence of processes through which a piece of work passes from initiation to completion.

Productivity

The effectiveness of productive effort, especially in industry, measured in terms of the rate of output per unit of input.