Robinson Starts a Plumbing Service Named Crusoe Waterworks

question 72

Multiple Choice

Robinson starts a plumbing service named Crusoe Waterworks. Transactions of Crusoe Waterworks during the first year of operations are given below:

• A) Robinson deposited $7,000 into a new checking account for the business and recorded the capital contribution.
• B) Paid $4,000 cash for equipment to be used for plumbing repairs.
• C) Borrowed $30,000 from a local bank and deposited the money in the checking account.
• D) Paid $800 rent for the year.
• E) Purchased $900 of office supplies on account.
• F) Completed a plumbing repair project for a local lawyer and received $3,500 cash.

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Definitions:

Justinian

Byzantine Emperor from 527 to 565 CE, known for his comprehensive codification of Roman law, the Justinian Code.

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A strategy that is best for a player in a game, regardless of the strategies chosen by other players.

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The process of extracting coal from the ground, which is used as an energy source and in various industrial processes.

Excavating Coal Mines

The process of removing earth to access coal deposits and extract coal from the ground for energy production or other uses.