The Following Transactions Have Been Journalised and Posted to the Proper

question 44

Multiple Choice

The following transactions have been journalised 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 a $2 000 deposit and borrowing $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 credit from one of its clients.
What is the balance in Service revenue?

• A)$3 000
• B)$3 150
• C)$1 000
• D)$4 000

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Definitions:

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The passage of electrical current through a conductive path, often expressed in amperes.

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A branch of psychology that studies how people interact with their social environments and how social institutions affect individuals and groups.

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A state of well-being in which an individual realizes their abilities, can cope with normal stresses of life, work productively, and contribute to their community.

Competence

The ability or skill to effectively perform or complete a task to a specified standard.