These Transactions Were Completed by the Art Gallery Opened by Zed

question 159

Multiple Choice

These transactions were completed by the art gallery opened by Zed Bennett.
Bennet started the gallery,Artery,by investing $40,000 cash and equipment valued at $18,000 in exchange for common stock.
Purchased $70 of office supplies on credit.
Paid $1,200 cash for the receptionist's salary.
Sold a painting for an artist and collected a $4,500 cash commission on the sale.
Completed an art appraisal and billed the client $200.
What was the balance of the cash account after these transactions were posted?

• A)$12,230
• B)$12,430
• C)$43,300
• D)$43,430
• E)$61,430

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Definitions:

Cognitive Dissonance

The mental discomfort experienced by an individual who holds contradictory beliefs, ideas, or values, leading to an internal conflict.

Purchase Anxiety

The apprehension or doubt a consumer may feel before making a purchase decision, often due to fear of making the wrong choice.

Consumer Cynicism

A sentiment or attitude of distrust towards marketing practices, where consumers doubt the honesty or integrity of advertisements and promotions.

Subliminal Perception

The process by which individuals respond to stimulus that they are not consciously aware of, influencing their behavior or thought process unknowingly.