Following Is a List of Account Balances (Except for Owner's

question 86

Multiple Choice

Following is a list of account balances (except for owner's capital) of Wilson Mowing Service as of December 31 of the first year of operation: $$\begin{array} { | l | r | } \hline \text { Accounts receivable } & \$ 2,500 \\\hline \text { Accounts payable } & 3,500 \\\hline \text { Salary expense } & 4,500 \\\hline \text { Repairs expense } & 800 \\\hline \text { Truck } & 8,500 \\\hline \text { Equipment } & 6,300 \\\hline \text { Notes payable } & 8,200 \\\hline \text { Cash } & 6,800 \\\hline \text { Supplies expense } & 1,600 \\\hline \text { Service revenue } & 31,900 \\\hline \text { Gasoline expense } & 3,800 \\\hline \text { Salary payable } & 200 \\\hline\end{array}$$
- The proprietor,J.D.Wilson,contributed $3,000 at the beginning of the year: during the year,the proprietor took $12,000 in drawings.
At the end of the year,what is the amount of total liabilities?

• A) $11,900
• B) $24,100
• C) $21,200
• D) $12,200

Grasp the processes involved in strategic planning, including its initiation and conclusion steps.

Identify effective responses to public catastrophes that impact brand perception and consumer confidence.

Recognize the importance of reviewing outcomes to ensure strategic objectives are met.

Comprehend the critical role of goals and strategic planning in setting an organization's future direction.

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Definitions:

Air Traffic Controller

A professional responsible for directing aircraft safely in the sky and on the ground at airports, ensuring the orderly and efficient flow of air traffic.

Managed Care Programs

Healthcare systems designed to optimize patient care, utilization of services, and minimize costs through predetermined networks and coverage limits.

Mental Disorders

A wide range of conditions affecting mood, thinking, and behavior, impacting an individual's ability to function.

Managed Care System

A healthcare delivery system designed to manage cost, utilization, and quality, often involving a network of providers and pre-established criteria for services.