The Following Transactions Have Been Journalized and Posted to the Proper

question 84

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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How much was net income?
A) $700
B) $300
C) $3,300
D) $2,450

• A) $700
• B) $300
• C) $3,300
• D) $2,450

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Definitions:

Human-Relations Approach

A management strategy focusing on improving interpersonal skills, worker satisfaction, and the dynamic between employees and management to enhance productivity.

Theory Y

A human resources management theory that assumes employees are intrinsically motivated, seek responsibility, and can be creative and innovative, suggesting a participative management style.

Job Performance

The level of effectiveness with which job tasks are carried out by an employee.

Job Satisfaction

The degree of pleasure an individual derives from their job, impacting their motivation and performance.