The Following Transactions for the Month of March Have Been $\$ 9,000$

question 36

Multiple Choice

The following transactions for the month of March have been journalized and posted to the proper accounts. Mar. 1 The business received $\$ 9,000$ cash and issued common stock to stockholders.
Mar. 2 Paid the first month's rent of $8O0.
Mar. 3 Purchased equipment by paying $3,000 cash and executing a note payable for $5,000.
Mar. 4 Iurchased office supplies for $\$ 750 \mathrm { cash }$ .
Mar. 5 Eilled a client for $\$ 10,000$ of design services completed.
Mar. 6 Received $8, 000 on account for the services previously recorded.
- What is the balance in Cash?

• A)$13,250
• B)$12,450
• C)$15,450
• D)$14,000

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Definitions:

Perform Work

The act of carrying out tasks or duties, usually in the context of employment or professional obligations.

Notify Principal

The action of informing the principal party or main authority about relevant or important information.

Limited Liability Company

An organizational form that merges the limited liability offered by a corporation with the partnership or sole proprietorship's benefit of pass-through taxation.

Limited Liability Partnership

A partnership in which some or all partners have limited liabilities, protecting them from being personally liable for the acts of the partnership.