Larry Bar Opened a Frame Shop and Completed These Transactions

question 62

Multiple Choice

Larry Bar opened a frame shop and completed these transactions:
1. Larry started the shop by investing $40,000 cash and equipment valued at $18,000.
2) Purchased $70 of office supplies on credit.
3) Paid $1,200 cash for the receptionist's salary.
4) Sold a custom frame service and collected $1,500 cash on the sale.
5) Completed framing services and billed the client $200.
What was the balance of the cash account after these transactions were posted?

• A) $38,700.
• B) $40,300.
• C) $300.
• D) $41,500.
• E) $38,500.

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Definitions:

Zooplankton

Small floating or weakly swimming organisms that are a component of the aquatic food web.

Freshwater Supply

Refers to the availability of water from sources such as rivers, lakes, and aquifers that is not salty and is vital for human consumption, agriculture, and supporting biodiversity.

River Zone

The area or region surrounding a river, including its banks and adjacent land, which can play critical roles in ecosystem function and biodiversity.

Source Zone

The specific location or area where pollutants originate and from which contamination spreads to surrounding environments.