C Palmer Opens a New Computer Sales and Repair Business

question 16

Multiple Choice

C. Palmer opens a new computer sales and repair business. His assets are: Premises $700 000, Equipment $100 000, Inventory $150 000, and Cash $30 000. His liabilities are: Payables - M Rice $25 000. The journal entry to record the opening would include:

• A)a credit to Capital for $955 000.
• B)a debit to Capital for $955 000.
• C)a credit to Capital for $1 050 000.
• D)a debit to Capital for $1 050 000.

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Definitions:

Sexual Behaviors

Actions or practices related to the expression of sexuality or sexual activity.

Penis

A male reproductive organ responsible for sexual intercourse and the elimination of urine from the body.

Anal Intercourse

The insertion of the penis into a partner’s anus and rectum.

Legal Term

A phrase or word used within the law, often possessing a specific and unique meaning within legal contexts.