Johnson Waterworks Company Provides Plumbing Services

question 70

Multiple Choice

Johnson Waterworks Company provides plumbing services.The company is a sole proprietorship.Transactions during the first year of operations are provided below.
a) The owner,Mitchell Johnson,contributed $14,000 cash in exchange for capital.
b) Paid $1,100 for equipment to be used for plumbing repairs.
c) Borrowed $13,000 from a local bank and deposited the money in the checking account.
d) Paid $300 in rent for the year.
e) Paid $200 for plumbing supplies to be used on various jobs next year.
f) Completed a plumbing repair for a law firm and received $3,300.
Calculate the amount of total assets at the end of the first year.Assume the plumbing supplies of $200 are left at the end of the year.

• A) $1,300
• B) $1,100
• C) $27,000
• D) $30,000

Understand various sleep disorders and their implications.

Recognize the psychological and physiological theories explaining sleep and dreams.

Identify the effects of sleep deprivation on mental and physical health.

Compare and contrast different states of consciousness, including meditation, hypnosis, and drug-induced states.

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Definitions:

Net Present Value

A financial metric used to determine the current value of a series of future cash flows, adjusted for time and interest.

Distributorship

An arrangement in which a business grants another business the right to sell its products or services in a particular area.

Working Capital

The disparity between a firm's immediate assets and liabilities, showcasing its short-term financial health and operational effectiveness.

Warehouse

A facility for storing goods that are being prepared for distribution or sale.