The Following Transactions Have Been Journalized and Posted to the Proper

question 34

Essay

The following transactions have been journalized and posted to the proper accounts. 1.Mark Call invested $7,000 cash in his new design services business.
2)The business paid the first month's rent with $700 cash.
3)The business purchased equipment by paying $2,000 down and executing a note payable for $4,500.
4)The business purchased supplies for $850 cash.
5)The business billed its clients a total of $4,000 for design services rendered.
6)The business collected $3,000 on account from one of its clients.
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What is the total amount of assets after all the above transactions have been completed?
A) $7,800
B) $13,800
C) $12,800
D) $14,800

• A) $7,800
• B) $13,800
• C) $12,800
• D) $14,800

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Definitions:

Flexible Benefit Plan

A benefits program allowing employees to choose from a range of benefits options, tailoring their package to meet personal needs.

Limitations

The restrictions or boundaries that define the scope or extent of something's capabilities or applications.

Employee Choice

The degree to which employees have the freedom to make decisions about their job or working conditions.

Record Keeping

The systematic process of organizing and maintaining information or data for future reference.