The Following Transactions Have Been Journalized and Posted to the Proper

question 34

Essay

The following transactions have been journalized and posted to the proper accounts. 1.Mark Call invested $7,000 cash in his new design services business.
2)The business paid the first month's rent with $700 cash.
3)The business purchased equipment by paying $2,000 down and executing a note payable for $4,500.
4)The business purchased supplies for $850 cash.
5)The business billed its clients a total of $4,000 for design services rendered.
6)The business collected $3,000 on account from one of its clients.
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What is the total amount of assets after all the above transactions have been completed?
A) $7,800
B) $13,800
C) $12,800
D) $14,800

• A) $7,800
• B) $13,800
• C) $12,800
• D) $14,800

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Definitions:

Controlling Demeanor

A behavior or attitude that aims to influence or dominate others.

Custody Role

The responsibilities and duties associated with guardianship or caretaking, particularly in reference to looking after minors or the legally incompetent.

Privatization

The process of transferring ownership of a business, enterprise, agency, or public service from the government to private individuals or organizations.

Ethical Issue

A problem or situation that requires a person or organization to choose between alternatives that must be evaluated as right or wrong.