Sharon Company Reported the Following Transactions for September, 2015

question 22

Multiple Choice

Sharon Company reported the following transactions for September, 2015.

• A)Sharon started the business with a capital contribution of $25,000 cash. It was credited to Sharon, Capital.
• B)The business purchased office equipment for $11,500 for which $2,500 cash was paid and the balance was put on a note payable.
• C)Paid insurance expense of $1,800 cash.
• D)Paid a utility bill for $900 cash.
• E)Paid $2,000 cash for September rent.
• F)The business had sales of $12,000 in September. Of these sales, 60% were cash sales, and the balance was credit sales.
• G)The business paid $8,000 cash for office furniture.

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Definitions:

Certain Stimuli

Specific environmental or internal triggers that evoke a physiological or psychological response.

Interplay

The way in which two or more things have an effect on each other.

Heredity

The passing on of physical or mental characteristics genetically from one generation to another.

Environment

The surrounding physical, social, and cultural conditions in which an organism or community lives and interacts.