Gamble Company Had the Following Transactions: 1

question 26

Multiple Choice

Gamble Company had the following transactions: 1.The owner started the company by investing $8,000 of cash.
2.The company paid $2,000 for six months of rent.The rent was paid in advance.
3.The company acquired $3,300 in inventory and put one-third of the purchase on account.The company paid $2,200 cash.
4.The company sold inventory costing $1,400 for $2,900 on account.
After all these transactions,what is the balance in the cash account?

• A)$1,600
• B)$3,800
• C)$4,800
• D)$6,700

Understand the ethical implications and moral debates surrounding genetic modification and prenatal screening.

Comprehend the distinctions between positive and negative eugenics and their goals.

Grasp the ethical considerations in gene therapy and genetic counseling, including the rights of children to an open future.

Analyze ethical arguments concerning the use of reproductive technologies, stem cells, and gene editing, including germ line changes.

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Definitions:

Bank Overdrafts

Happens when the amount taken out of a bank account surpasses what is in the account, leading to a negative balance.

Non-current Assets

Long-term investments or assets that are not expected to be converted into cash or used up within the business cycle of one year or the operating cycle, whichever is longer.

Bank Indebtedness

A financial obligation or debt to a bank, often in the form of loans, overdrafts, or lines of credit.

Current Liability

An obligation that a company is expected to pay within the next year or within the normal operating cycle.