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

question 159

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 made $12,000 in drawings.
At the end of the year,what is the amount of total owner's equity?

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

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Definitions:

Combining Form

In linguistics and lexicology, a form of a word that combines with another form to create a new word or term, often used in the creation of technical or medical terms.

Egg

An organic vessel containing the zygote in which an embryo develops until it can survive on its own; also, a common food item rich in protein.

Oophor/o

Oophor/o is a prefix related to the ovary or ovaries, utilized in medical terms.

Ov/o

A prefix relating to eggs, used in medical and scientific terms.