A Business Has the Following Transactions

question 91

Multiple Choice

A business has the following transactions:
* The business received $16,000 cash and issued common stock to stockholders.
* The business purchases $600 of office supplies on account.
* The business purchases $3,000 of furniture on account.
* The business renders services to various clients totaling $10,000 on account.
* The business pays out $1,500 for salaries expense and $3,500 for rent expense.
* The business pays $800 to supplier for the office supplies purchased earlier.
* The business collects $4,000 from one of its clients for services rendered earlier in the month.
At the end of the month,all journal entries are posted to the ledger.Accounts Payable will appear as which of the following?

• A) Accounts Payable
• B) Accounts Payable
• C) Accounts Payable
• D) Accounts Payable

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Definitions:

Class Statuses

The categorization of individuals and groups according to their social, economic, or educational standing within a society.

Religious Organization

An institution that facilitates the practice of a particular religion, including its doctrines, rituals, and structure.

Occupation Classes

Refer to the categorization of jobs based on skill level, responsibility, and pay grade, often linked to socioeconomic status.

Apartheid

A policy or system of segregation or discrimination on grounds of race which was practiced in South Africa from 1948 until the early 1990s.